Study Links Legalized Marijuana to Strong Housing Markets – NMP Skip to main content

Study Links Legalized Marijuana to Strong Housing Markets

Apr 12, 2019
Photo credit: Getty Images/Bulat Silvia

Cities where marijuana has been legalized enjoy more vibrant housing markets versus localities where marijuana is still illegal, according to a study from Clever Real Estate.
 
The new study determined that between 2014 and 2019, cities that allowed retail marijuana dispensaries to operate saw local home values increase $22,888 more than those where marijuana remains illegal. From 2017 to 2019, cities that legalized recreational marijuana usage saw home values increase $6,337 more than those where marijuana is illegal.
 
The report highlighted the examples Colorado and Washington, the first states to legalize cannabis for recreational use. According to the study, since opening their first dispensaries in 2014. Colorado home values have increased by 58 percent and Washington home values have increased 57 percent.
 
“In addition to higher home values, home sellers in Colorado and Washington have enjoyed fewer days on market compared to the national average, particularly in the last few years,” said Luke Babich, Co-Founder of Clever Real Estate and author of the study. “Following legalization in 2012, there was a significant decrease in days on the market for both states.”

 
About the author
Published
Apr 12, 2019
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Oct 14, 2026
PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Oct 09, 2026
Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Oct 09, 2026
Newrez, eXp Realty Form Joint Venture To Target Purchase Business

Revenos Mortgage is set to launch in early 2027, replacing eXp's joint venture with Kind Lending

Oct 08, 2026
FICO Cuts 15% Of Workforce, Cites AI And Organizational Changes

Workforce reductions come amid wider lender adoption of VantageScore and changes to GSE credit-score pricing

Oct 07, 2026