New Study Finds Houses Closer to Marijuana Dispensaries Are Worth More

States where marijuana is legal have seen an influx of people moving there to enjoy cannabis without punishment. But has legalizing marijuana also improved real estate values? According to a new study, the answer is yes.

A group of researchers from around the country conducted a study on Colorado real estate prices before and after marijuana legalization, which they titled “Contact High.” They found that houses that were 0.1 miles or less away from a marijuana dispensary saw their prices increase 8 percent more than homes that were a farther distance away. They estimated homes near marijuana dispensaries were worth an average of $27,000 more than those farther away.

“Our results indicate that retail conversion has a large positive impact on neighboring property values after controlling for property attributes and neighborhood characteristics,” the researchers wrote.

It’s probably not too surprising to see those. Dispensaries can be a hub for economic

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