Report: Remote work causing offices to empty, but walkable cities still in high demand

Given the reliance on vehicular transportation in the United States, some American cities historically haven’t prioritized being walkable in past planning and or design. But amid an unprecedented shift in the economy toward remote work, those that have are increasingly desirable for prospective residents. A new report from Smart Growth American and Places Platform, “Foot Traffic Ahead 2023,” found a higher demand for real estate in walkable urban spaces than in car-dependent suburban alternatives.

This implies that, while cities are evolving as offices clear out, their appeal hasn’t changed.

“As the market continues to choose walkable urbanism, it is critical for policymakers to protect existing affordability, promote new affordable housing, and remove barriers to increasing the supply of housing overall. All people deserve access to the quality-of-life and economic benefits that walkable urbanism can provide,”  said Calvin Gladney, president and CEO of Smart Growth America about the report, which ranks the top 35 American metros by urban walkability. The findings show “that people want to live in walkable urban places, but there’s often not enough housing where folks need it, making it unaffordable and inaccessible to low- and moderate-income people, and to many communities of color.”

The report, which was co-authored by Michael Rodriguez and Christopher Leinberger, uses data from Yardi Matrix and Rocktop Partners. Each metro was ranked on its percentage of real estate inventory, square footage, and walkable urban development status using data about office space, multi-family rentals, and for sale properties.

On average, researchers identified 1.2% of the largest 35 metropolitan areas as walkable. Meanwhile, it houses 6.8% of the U.S. total population and drives 19.1% of the nation’s GDP.

“This is notable as it is illegal to build walkable urban densities and mixed-use development on much of the 98.8% of land that is car-dependent due to restrictive zoning policies in most metropolitan areas,” the report continues. “Tools to address high prices and short supply include zoning reform to increase walkable urban land supply and expansion and investment in affordable housing.”

To read the complete article, visit American City & County.