Realtors are learning the importance of walkable urban communities when it comes to real estate development.
According to Realtors.org, residential walkable communities generate four times the tax revenue than regional and business malls. These developments help bring more value to the area.
Walkable areas provide benefits to the community and the residents. According to Realtor.org, residents in urban areas usually spend about 43 percent of their income on housing and transportation, whereas people in non-walkable areas spend about 48 percent.
Some of this savings come from not needing a car. People in walkable areas can forgo typically at least one car, which will save them money on car payments, gas and insurance.