October 23, 2004

Demand For Housing Near Train Stations

Demand for housing near subway and commuter rail stations is expected to skyrocket in the next 25 years, with "at least a quarter of all new households — 14.6 million households -- [potentially] looking for housing in these transit zones," according to a study, Hidden in Plain Sight, from planning groups in Chicago and San Francisco. "This is a staggering figure, since only a small portion of all new housing is being built in these locations today."

An estimated 6 million households are now within half a mile of transit stations.

Much of the demand will occur in five cities with "mature and extensive transit systems," the study says: Boston, New York, Philadelphia, Chicago and San Francisco. But other communities with smaller systems but soaring growth, such as Denver and Salt Lake City, are also likely to see heavy demand for housing within walking distance of a subway or commuter rail line.

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