Since transportation costs can be expensive and places second on the list of high costs in household expenses, Walk Scores refers to the walkability of an individual home. It uses an algorithm to determine points based on distance from a unique address to the closest amenities (shopping, dining, entertainment, schools, basic needs and more).
Walk Scores reflect what may be a major concern to some prospective homeowners. Originally started in 2007 Walk Score had a mission to promote walkable neighborhoods as an answer to the problems in environment, health and the economy. Walk Scores in its most basic sense means location efficiency. Consider distance and commute time to work, school, shopping and other frequent destinations from the home. Commuting options in the Walk Score may include walking, biking, driving or public transit. What is the walkability of the neighborhood and surrounding areas? Is public transportation easily attainable? Answers to these questions are then factored into a Walk Score or a numeric walkability score/index that then can be associated with a home’s value. Several independent studies have shown a correlation to higher home values with above average walkability numbers.