A new study has found that not only is the legalization of recreational marijuana affecting Colorado s housing market, but also why.
The study, conducted by Clever Real Estate, determined that ever since recreational marijuana was legalized in Colorado back in 2012, the housing market has skyrocketed and has issued a report on why they believe it has.
Apparently, all of the states that have legalized recreational marijuana have shown an average of a $17,000 increase in home values nationwide.
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We were very interested in understanding more about why recreational marijuana has such an impact on home values. It seems to us there are quite a few factors that are intertangled here. First, new industries attract more jobs and employees looking for homes. Then, of course, tax revenue. These laws that are legalizing the marijuana industry bring in billions of dollars across the country in tax revenue. In Colorado, that goes entirely into education, and so people w
New report links marijuana legalization to Colorado s high home prices
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New report links marijuana legalization to Colorado s high home prices
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Created: July 15, 2021 09:01 PM
ALBUQUERQUE, N.M.- A new study shows New Mexico home values may go up following the legalization of recreational marijuana.
Something interesting that we noted was that the type of legalization actually had a huge impact, said Michelle Delgado of Clever Real Estate. So states that legalized recreational marijuana saw much bigger jumps in home values than states that only legalized medicinal marijuana or states that didn t legalize it at all.
From 2017 to 2021, Colorado s home values went up $89,377. Arizona s increased $80,558. In Texas, where recreational marijuana is not legal, home values rose $40,457 in the same time span.