According to a study, which used housing data from Zillow, marijuana-friendly cities are seeing an increase in home values.
On average, home values in these cities jumped $6,337 more than everywhere else.
The study analyzed home values in cities where marijuana has been legalized.
While homes values in cities with legalized marijuana grew by $6,337 between 2017 and 2019, cities within close access to legal dispensaries saw an average growth of $22,888, or 8.4 percent, more per home between 2014 and 2019.
The cities that only allow medical marijuana use saw the same growth as cities where all marijuana use remains illegal.
“States that legalize recreational cannabis see an immediate bump in home values following legalization, even without retail dispensaries opening up,” said the study.
“The data suggests real estate investors can find blazing housing markets in cities where recreational cannabis is legalized,” it also found.
“There will be the memory of something that used to be authentic, and about six companies will be selling Oregon cannabis all over the world,” Smith said. “We will look around at this multibillion-dollar export industry that we have here and think, ‘Hmm, it’s a shame we don’t own it anymore.'”
