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    Do homes near Panthers’ Bank of America Stadium cost more?

    By Hannah Goodman of Trulia

    NFL Stadiums are a hotspot for potential home owners and renters. Many people will pay a premium to be close to the action and excitement of professional football. Especially for a team as successful as the Carolina Panthers. So how does that affect the Charlotte Real Estate Market? Our friends at Trulia answered that question and more in their recent article, “Field Position: Does an NFL Stadium Boost Your Home Value?”  The Trulia team discovered that homes for sale within a two mile radius of an NFL Stadium do typically cost more. However, it is difficult to tell if the reason for the higher cost is related to the stadium.

    Homes near Bank of America Stadium are valued at 8.3 percent higher than regional home values. Currently the average listing price for a home in Uptown, the neighborhood nearest to the Charlotte Stadium, is about $451,000. While a home for sale in a neighborhood further away from all the Football action, in North Charlotte, has an average listing price of about $230,000. Rentals follow a similar trend, with values near the stadium 4.3 percent higher than regional rents.

    However, there are other factors that must be taken into consideration. Population of an area is perhaps the most impactful, as some arenas are located in bustling downtown areas, while other stadiums are located in quieter suburbs that are notably less populated.  For instance, home values in South Philadelphia near Lincoln Field are 44.3 percent higher than regional values, while rental values are 8.9 percent higher. On the other hand, home values near MetLife Stadium in East Rutherford, NJ, a small New Jersey suburb with few amenities, are only 6.7 percent higher than regional home values. While 0 percent of stadium rents near Metlife are higher than regional rents.

    Trulia’s research speaks to this discrepancy, suggesting that the neighborhoods surrounding the stadium, not the stadiums themselves, are the true differentiators on this subject. If you are looking to rent or buy a home near Charlotte’s Bank of America Stadium, it’s safe to say you should be prepared to pay a little more. The premium price not only purchases easy access to the stadium but also to the many shopping, dining, and nightlife options available in Uptown Charlotte.

     

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