LEED homes in Austin-Round Rock offer $25,000 more in resale value
A new study from The University of Texas at Austin and USGBC found that new homes in the Austin-Round Rock Metropolitan Statistical Area (Austin-Round Rock MSA) built to meet green building standards such as LEED are worth an average of $25,000 more in resale value than conventional homes.
According to the study, homes built to LEED standards between 2008 and 2016 showed an 8 percent boost in value, while homes built to a wider range of green standards saw only a 6 percent increase in value. In the Austin-Round Rock single-family home market, a 6 to 8 percent "green premium" can be a major gain for those selling their homes, as well as developers and real estate agents.
Based on an analysis of more than 230,000 homes in the area, it was determined that the 3,800 green-certified homes (LEED and other green rating systems) delivered the extra 6 to 8 percent resale value.
The LEED Homes rating system was created in 2008 as a way for single-family homes and multi-family buildings to achieve LEED certification. Nationwide, the residential green construction market is expected to grow from $55 million in 2015 to $100.4 million in 2018, representing a year-over-year growth of 24.5 percent. Currently, there are more than 6,890 homes certified or pursuing LEED certification in Texas alone.