Why the Light Rail System is Positively Affecting Real Estate

Here are some reasons why the light rail is positively affecting real estate in Washington.

Did you know over 50 years ago, King County voters rejected a rapid transit system that would have been 75% funded by the federal government? Seattle would have looked a lot different than it does today. Fast forward, Seattle now has a light rail transportation system in place with a plan to expand into neighboring areas.  

"The Seattle Light Rail project began in 2009 connecting Downtown Seattle to SeaTac Airport and has since expanded to North Seattle, West Seattle, SoDo and Ballard."

The expansion plan will also affect areas like Redmond, Everett, and Tacoma. Not only does the light rail provide a better green alternative to transportation, it has increased property real estate values. Here are three ways, this will positively affect real estate in your area. Firstly, easy access to public transit is an attractive feature for potential homebuyers and renters, which will drive up demand for properties in the vicinity adding value to homes. 

Secondly, in addition to increased home values, developers may be more inclined to invest in and around light rail stations, which will then lead to new housing, commercial spaces and amenities those in the area can enjoy. This can contribute to a transformation of neighborhoods over time.

Thirdly, the presence of a light rail station can positively influence the perception of a neighborhood making it more appealing to potential buyers, renters and businesses. In turn, this positive perception can contribute to an overall improvement in the real estate market. 

If you have questions about this topic or anything else, please call or email me. I am always willing to help!

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