There is an interesting juxtaposition of news items today. Redfin, the real estate brokerage website, has published a list of the Top 10 most walkable midsized cities in the country. Arlington County (a highly urbanized county) scored third and Richmond scored ninth, based on their Walk Score rankings.
Arlington won kudos for its Ballston-Virginia square neighborhood, where residents can walk to an average of 13 restaurant, bars or coffee shops within five minutes. While the Washington metropolitan area is notorious for its traffic, many Arlington residents live car-free, opting to get around on foot, bike and public transportation.
Richmond earned recognition for the revitalization of neighborhoods surrounding downtown, including Jackson Ward, Shockoe Bottom, Monroe Ward, the riverfront and Manchester. The Fan and Carytown neighborhoods to the west of downtown also stood out for their walkability.
To many urban theorists, walkability is a critical determinant of a community’s livability, ranking close behind the cost of real estate, the quality of schools and the level of taxes in what people take into account when deciding where to live. But it’s no guarantee of prosperity or rising real estate values…. which brings us to the other news item.
The top two midsized cities ranked by walkability are Jersey City (No. 1) and Newark (No. 2). But guess where Jersey City and Newark rank in WalletHub’s ranking of 2015’s Healthiest Housing Markets. Out of 94 midsized cities ranked, Newark scored 94th — dead last — while Jersey City ranked 76th. (Richmond ranked a ho-hum 45th among midsized cities.)
Bacon’s bottom line: I’ll concede that this is a quick-and-dirty analysis based on a comparison of midsized cities only, not a comprehensive comparison of all types and sizes of municipal governments, so it may not reflect the larger reality. But I would advance this as a reasonable hypothesis: Walkability is a wonderful thing, and many people desire it, but it is a relatively minor factor influencing the health of urban real estate markets.
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