Photo courtesy of Creative Commons 2.0
Not every major city has an NFL stadium, but for those that do, the effects on the surrounding home and rental markets vary wildly, from boosting prices to over 40 percent in Philadelphia to bringing them down nearly 20 percent in Pittsburgh. Lucky for homeowners near Houston’s NRG Stadium, the case is the former, according to a new report from Trulia.
Debuting in Aug. 2002, NRG Stadium, home of the Houston Texans, sits a stone’s throw south of the city’s Museum District, where it has helped improve home prices and increase rental rates far beyond regional standards.
In its report, Trulia examined home and rental data from properties within a two-mile radius of the stadium, and found that home prices and rents near NRG Stadium both were above regional standards by double digits. Trulia found that home prices around the stadium averaged 28.8 percent against regional values (the third highest compared to other NFL stadiums), while rents averaged a 20.4 percent positive margin (the highest of any other near-stadium rents).
To see how Houston compared to the other 32 cities with NFL stadiums, check out our table below:
| Stadium | Team | % Stadium Home Values Vs. Regional Home Values | % Stadium Rents Vs. Regional Rents |
|---|---|---|---|
| Lincoln Field (Philadelphia) | Eagles | 44.3% | 8.9% |
| First Energy Stadium (Cleveland) | Browns | 31.2% | 12.9% |
| NRG Stadium (Houston) | Texans | 28.8% | 20.4% |
| M&T Bank Stadium (Baltimore) | Ravens | 26.2% | 10.5% |
| Ford Field (Detroit) | Lions | 24.2% | 0.0% |
| Edward Jones Dome (St. Louis) | Rams | 16.7% | 5.1% |
| EverBank Field (Jacksonville, Fla.) | Jaguars | 12.5% | 3.9% |
| Nissan Stadium (Nashville) | Titans | 9.1% | 5.4% |
| Bank of America Stadium (Charlotte, N.C.) | Panthers | 8.3% | 4.2% |
| Mercedes-Benx Stadium (New Orleans) | Saints | 6.9% | 4.8% |