A city's pedestrian-friendliness impacts its economy, according to a report done by Christopher Leinberger and Patrick Lynch of the Center for Real Estate and Urban Analysis at George Washington University School of Business. Ā
According to the report, walkable communities have a higher GDP, greater wealth and higher percentages of college grads (see table below). Moreover, there is a ā74 premium in rent per square foot in office buildings in walkable areas.ā
And the report is not only talking about cities. According to Leinberger, the traditional dichotomy of āwalkable urbanā and ādrivable suburbanā is falling out of use. Many urban areas are car-oriented and many suburbs are developing into walker-friendly spaces.
Currently, the top five cities based on the percentage of their "WalkUPs" (walkable urban places) from the total metro area and population are Washington, D.C., New York, Boston, San Francisco, and Chicago.
Click hereĀ to read the whole report and learn more.
Ā
Screenshots from Foot Traffic Ahead reportĀ
Ā© The George Washington University School of Business 2014
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