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 (Chicago, Los Angeles, New York, San Francisco, Washington, DC and Philadelphia) 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 Chicago, Los Angeles, New York, San Francisco, Washington, D.C., and Philadelphia was $875,999 as of February, 2022
  • The Average Rental Price in TOD zip codes across the major markets of Chicago, Los Angeles, New York, San Francisco, Washington, D.C., and Philadelphia was $2,626 as of February, 2022
 market data market data
Philadelphia: 
  • Home Values in TOD zip codes averaged $229,955 compared to the average for the region at $229,955 as of February 2022
  • Rental Prices in TOD zip codes averaged $1,687 compared to the average for the region at $1,742 as of February 2022
philadelphia market data philadelphia market data
Chicago:
  • Home Values in TOD zip codes averaged $416,971 compared to the average for the region at $296,053 as of February 2022
  • Rental Prices in TOD zip codes averaged $1,811 compared to the average for the region at $1,797 as of February 2022
Chicago market data Chicago market data
Los Angeles:
  • Home Values in TOD zip codes averaged $927,762 compared to the average for the region at $892,558 as of February 2022
  • Rental Prices in TOD zip codes averaged $2,364 compared to the average for the region at $2,816 as of February 2022
Los Angeles market data Los Angeles market data
New York:
  • Home Values in TOD zip codes averaged $1,007,842 compared to the average for the region at $582,684 as of February 2022
  • Rental Prices in TOD zip codes averaged $3,238 compared to the average for the region at $2,860 as of February 2022
New York market data New York market data
San Francisco:
  • Home Values in TOD zip codes averaged $1,461,032 compared to the average for the region at $1,426,520 as of February 2022
  • Rental Prices in TOD zip codes averaged $3,391 compared to the average for the region at $3,084 as of February 2022
san francisco market data san francisco market data
Washington, D.C.:
  • Home Values in TOD zip codes averaged $787,851 compared to the average for the region at $536,402 as of February 2022
  • Rental Prices in TOD zip codes averaged $2,327 compared to the average for the region at $2,120 as of February 2022
Washington, D.C. market data Washington, D.C. market data