Neighborhood Features That Reduce Home Values

Some neighborhood features close to a home, for examplepower plants and cemeteries, can really undermine a home's value. Realtor.com analyzed data and came up with a list of features that have the most effect on values.

To forecast, Realtor.comevaluated home prices and appreciation rates in zip codes of the top 100 metro areas that had a certain "drag-me-down-feature" that was present.

The research team then determined the possible discount by comparing the median home price in that zip code with the "drag-me-down-feature"with the median price for all homes in that same county.

They came up with these features that had the greatest negative effect on home values:

1. BadSchool: -22.2%(homesnear a bad school received 22.2% less than an average home in the same county)
2. Strip Club: -14.7%
3. High renter concentration: -13.8%
4. Homesless shelter: -12.7%
5. Cemetery: -12.3%
6. Funeral home: -6.5%
7. Power plant: -5.3%
8. Shooting range: -3.7%
9. Hospital: -3.2%

Main article: "The Neighborhood Features That Drag Down Your Home Value - Ranked," realtor.com (03/28/16)