Get Informed

Explore the proposed guidelines through questions and answers.

Question

Would a Historic Preservation Overlay increase property values?

Answer

Economists have studied the effect of historic district designation on housing prices and the results are mixed. Several studies find that house prices are higher in historic districts (e.g. here and here) and that prices appreciate faster after a designation. Other studies that control for additional factors that can affect prices, such as price trends prior to historic designation and hard-to-measure neighborhood/housing characteristics, find that historic designations are associated with either modestly lower prices or essentially no change in prices.


To understand how historic districts affect cities more broadly, it’s important to think about why prices would change after a historic designation. Some real estate professionals think being in a historic district lowers housing prices because it restricts what people can do with their property. Local historic districts require property owners to go through an approval process before making changes to a property’s exterior and any changes must be consistent with the district’s historic character. This can preclude adding modern home design features and in some cases the use of new technologies, such as solar panels.


Source: Forbes

Knowledge Is Power

Subscribe to receive key updates and opportunities for action.

Sign Up to receive notifications about HPO related meetings, events, and voting opportunities. Opt-out at any time.

Get Informed

Explore the proposed guidelines through questions and answers.

Question

Would a Historic Preservation Overlay increase property values?

Answer

Economists have studied the effect of historic district designation on housing prices and the results are mixed. Several studies find that house prices are higher in historic districts (e.g. here and here) and that prices appreciate faster after a designation. Other studies that control for additional factors that can affect prices, such as price trends prior to historic designation and hard-to-measure neighborhood/housing characteristics, find that historic designations are associated with either modestly lower prices or essentially no change in prices.


To understand how historic districts affect cities more broadly, it’s important to think about why prices would change after a historic designation. Some real estate professionals think being in a historic district lowers housing prices because it restricts what people can do with their property. Local historic districts require property owners to go through an approval process before making changes to a property’s exterior and any changes must be consistent with the district’s historic character. This can preclude adding modern home design features and in some cases the use of new technologies, such as solar panels.


Source: Forbes

Knowledge Is Power

Subscribe to receive key updates and opportunities for action.

Sign Up to receive notifications about HPO related meetings, events, and voting opportunities. Opt-out at any time.

Get Informed

Explore the proposed guidelines through questions and answers.

Question

Would a Historic Preservation Overlay increase property values?

Answer

Economists have studied the effect of historic district designation on housing prices and the results are mixed. Several studies find that house prices are higher in historic districts (e.g. here and here) and that prices appreciate faster after a designation. Other studies that control for additional factors that can affect prices, such as price trends prior to historic designation and hard-to-measure neighborhood/housing characteristics, find that historic designations are associated with either modestly lower prices or essentially no change in prices.


To understand how historic districts affect cities more broadly, it’s important to think about why prices would change after a historic designation. Some real estate professionals think being in a historic district lowers housing prices because it restricts what people can do with their property. Local historic districts require property owners to go through an approval process before making changes to a property’s exterior and any changes must be consistent with the district’s historic character. This can preclude adding modern home design features and in some cases the use of new technologies, such as solar panels.


Source: Forbes

Knowledge Is Power

Subscribe to receive key updates and opportunities for action.

Sign Up to receive notifications about HPO related meetings, events, and voting opportunities. Opt-out at any time.