Regional Data for Major Markets

The data underlying the TOD Index can also be evaluated to understand regional trends over time. Here, home values and rental prices of TOD station areas for six major metro areas (Boston, Chicago, Los Angeles, New York, San Francisco, and Washington, DC) are tracked, relative to national and regional averages. Home values for TOD areas in all six of these metro areas have consistently exceeded national, as well as regional averages, with growth rates often notably outpacing regional averages both prior to and during recovery from the great recession.

For rental prices (for multi-family housing with five or more units), data is available for each of these six metro areas beginning in January 2014. Due to this more limited dataset, greater volatility may be seen in these figures over time, however, here too, median rental prices within TODs in major markets are on average considerably higher than national averages, with TOD-area prices consistently exceeding regional averages. Importantly, the data currently available are not normalized by the size of units available. Therefore, while smaller units in TOD areas may appear of comparable value to larger units in more suburban locations in a region, on a price per square foot basis, the relative value of TOD locations would typically be more pronounced. Please see below for highlights of the current data from each region:

Major Market Summary:
  • The Average Home Value in TOD zip codes across the major markets of Boston, Chicago, Los Angeles, New York, San Francisco and Washington, D.C. was $825,627 as of December, 2020
  • The Average Rental Price in TOD zip codes across the major markets of Boston, Chicago, Los Angeles, New York, San Francisco and Washington, D.C. was $2,382 as of December 2020
 market data market data
Boston: 
  • Home Values in TOD zip codes averaged $860,810 compared to the average for the region at $535,997 as of December 2020
  • Rental Prices in TOD zip codes averaged $2,607 compared to the average for the region at $2,346 per SF as of December 2020
boston market data boston market data
Chicago:
  • Home Values in TOD zip codes averaged $387,932 compared to the average for the region at $258,381 as of December 2020
  • Rental Prices in TOD zip codes averaged $1,640 compared to the average for the region at $1,738 as of December 2020
Chicago market data Chicago market data
Los Angeles:
  • Home Values in TOD zip codes averaged $849,035 compared to the average for the region at $739,930 as of December 2020
  • Rental Prices in TOD zip codes averaged $2,203 compared to the average for the region at $2,562 per SF as of December 2020
Los Angeles market data Los Angeles market data
New York:
  • Home Values in TOD zip codes averaged $759,114 compared to the average for the region at $507,584 as of December 2020
  • Rental Prices in TOD zip codes averaged $2,646 compared to the average for the region at $2,584 as of December 2020
New York market data New York market data
San Francisco:
  • Home Values in TOD zip codes averaged $1,332,382 compared to the average for the region at $1,167,602 as of December 2020
  • Rental Prices in TOD zip codes averaged $3,060 compared to the average for the region at $2,993 as of December 2020
san francisco market data san francisco market data
Washington, D.C.:
  • Home Values in TOD zip codes averaged $761,034 compared to the average for the region at $471,888 as of December 2020
  • Rental Prices in TOD zip codes averaged $2,135 compared to the average for the region at $2.079 as of December 2020
Washington, D.C. market data Washington, D.C. market data