Realtors Say Homes Near Cannabis Dispensaries Have Higher Value

Houses located near cannabis dispensaries are more likely than others to appreciate in value, according to an analysis provided by Tomo Real Estate.

Analysts assessed the relationship between cannabis stores and home prices in Colorado, Michigan, and Oregon. They examined annual increases or decreases in median home prices in zip codes with a dispensary compared to median home price changes in the surrounding zip codes.

Researchers concluded that homes located in towns with dispensaries experienced, on average, an annual increase in home values of $4,400.

The findings are consistent with other studies which have reported increased home values for properties located close to licensed cannabis establishments, as well as in states that have enacted cannabis legalization laws.