Bike paths, dedicated bike lanes and bicycle-share programs are creating a surge in residential home values, according to a recent report by the Urban Land Institute.
Nationwide, the report's author's found homes located near "active" transportation are worth an additional $34,000.
The report titled "Active Transportation and Real Estate: The Next Frontier", studied ten communities in the U.S.. In Indianapolis, the six year old Cultural Trail created an increase in nearby residential values of a whopping 148 percent. Authors cited graded paths, protective posts and “bicycle boulevards” as reasons for the popularity of the surrounding neighborhoods.
Used for commuting and also for recreation, the report stated a bicycle infrastructure contributes to overall better health, fewer greenhouse gas emissions and reduced use of fossil fuels.
Cape Cod is known as a bike-friendly region with paved and protected bike paths throughout the 70-mile area. An extension of the Cape Cod Rail Trail is currently being constructed to link what is now the end of the trail in Dennis, through Yarmouth, and into Barnstable.
For more information about Cape Cod Bike Trails, with downloadable maps, visit the Cape Cod Chamber of Commerce here.
And to experience Cape Cod biking from your easy chair, enjoy this video by Kinlin Grover Real Estate and Paul Freehauf Productions.