Based on a recent study by American Express OPEN, home values in neighborhoods with strong independent retail districts grew at a much faster rate over a 14 year period than those without.
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* Source: The Civic Economics "American Express OPEN Independent Retail Index" was used for the underlying finding on which the calculator is based, but not for the specific calculations. Civic Economics analyzed home values for 27 neighborhoods in 15 American cities. Neighborhoods were identified based on the presence of a strong, independent-dominated business district within the same ZIP code. Across all 27 neighborhoods, residential values gained, on average, 54.2% more in home values then their citywide markets over the most recent 14 year period. Home sale price data provided by Zillow.