Marijuana and Rising Property Values

Rising Property Values Due To Marijuana Legalization, Study Claims

In Colorado, legalizing cannabis has earned the state almost $2 billion in marijuana sales, including general scholarship funds for students headed to college and around several hundred million dollars in tax revenues. It has also made property values more lucrative in and around the city of Denver, and certainly in areas that have close proximity to retail pot shops. Specifically, cannabis outlets are adding 8.4 percent more value onto homes closer to them than farther away. At least, that is what the Wisconsin School of Business at the University of Wisconsin-Madison had to say, which just last week released a research report conducted by assistant professor of real estate & urban land economics, Dr. Moussa Diop, as well as the University of Georgia’s James Conklin and California State University’s Herman Li. The team found no negative impacts on property or housing prices since marijuana went legal. In fact, they found …

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