 A study conducted by Rutgers New Jersey State Policy Lab found a positive association between the decision to allow cannabis-related businesses and home prices.
They found that municipalities which allowed cannabis businesses within their jurisdictions in New Jersey saw average home sales prices increase by 1.6% more than in towns without legal cananbis sales. That 1.6% increase amounts to a little more than $6,300 in real estate prices. There is not enough evidence to prove that the cannabis-related businesses caused this home price increase, but there is enough evidence to show that allowing cannabis-related businesses certainly at least does not negatively impact home sale prices. The study results suggest state and local policymakers can be optimistic about the impacts of allowing cannabis-related businesses in their jurisdictions. Comments are closed.
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