{"id":22194,"date":"2021-02-27T16:23:49","date_gmt":"2021-02-28T00:23:49","guid":{"rendered":"https:\/\/www.homelight.com\/blog\/?p=22194"},"modified":"2024-05-29T10:13:04","modified_gmt":"2024-05-29T17:13:04","slug":"crime-reports-in-my-neighborhood","status":"publish","type":"post","link":"https:\/\/www.homelight.com\/blog\/crime-reports-in-my-neighborhood\/","title":{"rendered":"Crime Impacts Property Value: Here are 10 Tools to Help Explore Crime Reports in My Neighborhood"},"content":{"rendered":"

Studies show that crime rates can impact property values<\/a>. Not surprisingly, when crime rates go up, property values go down, and vice versa. If you’re selling your home, it pays to know your neighborhood’s crime stats so you can adjust your pricing and marketing strategy accordingly.<\/p>\n

While your real estate agent can tell you if your neighborhood is “up and coming<\/a>” and help you decipher a crime report, they can’t discuss crime in-depth<\/a> due to Fair Housing Law restrictions<\/a>. You’ll have to conduct your own research to get the full picture.<\/p>\n

To help you with that, we’ve combed the internet to find some of the best resources, to let you know if you’ll need a security blanket in your neighborhood.<\/p>\n

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Source: (Karl Edwards \/ Unsplash)<\/figcaption><\/figure>\n

Crime impacts property values in different ways<\/h2>\n

Even though crime has decreased<\/a> 51% from 1993 to 2018, crime in the U.S.<\/a> remains higher than in any other developed nation. In areas with “hot spots<\/a>” \u2013 pockets with frequent and even predictable crime \u2013 housing values may fall<\/a> accordingly. A University of Vermont study found that high crime rates in nearby neighborhood parks or other amenities can impact a home’s value<\/a>.<\/p>\n

Burglary and theft<\/h3>\n

My Move states that homebuyers’ greatest concerns<\/a> regarding crime are burglary and vehicle theft. According to the Union Crime Report<\/a> the FBI released in 2018, there were 7.2 million annual property crimes, with victims of property crime (burglary, larceny, and motor vehicle theft) losing $16.4 billion. The same report indicates there were 1.2 million violent crimes in 2018.<\/p>\n

Violent crime<\/h3>\n

Fortunately, violent crime in urban neighborhoods declined 20% from 2018 to 2019. <\/a>That decrease reflects positively on house prices. According to a 2012 crime report by the Center for American Progress, an independent, nonpartisan policy institute, a reduction of one homicide in one year in a zip code results in a 1.5% percent increase in housing values<\/a> in that same zip code the following year.<\/p>\n

Sex offenders<\/h3>\n

Studies<\/a> indicate that house values fall by as much as 2.3% in some areas when a sex offender moves in. On average, homes within 0.1 miles of a registered sex offender decline in value by 4%, according to the American Economic Review<\/a>.<\/p>\n

Find out if crime is impacting your neighborhood by consulting these sites:<\/p>\n

AreaVibes<\/a>\u00a0<\/a><\/h2>\n

This easy-to-use site ranks more than 45,000 cities and neighborhoods in the U.S. and Canada, awarding a “livability score” on a scale of 1 to 100, segmented into an A to F grade. Categories include amenities, cost of living, schools, employment, housing, weather, and crime rates. The site includes violent crime, property crime, total crime, and trends, all of which it compares to both national and state crime stats. Additionally, AreaVibes calculates your chance of becoming a crime victim in the neighborhood. Resident reviews add context to the numbers.<\/p>\n

Features:<\/b><\/p>\n