The New York Times looked at years of data about home sales and listings to find some interesting insight about street names, and their affect on the value of homes.
Street names tell stories. They tell us if a neighborhood is expensive or affordable, brand-new or decades old. With street names alone, we can uncover all kinds of insights. When it comes to home values, there are three key findings. First, names are better than numbers. Second, lanes are better than streets. Third, unusual names are better than common ones.
Nationally, the most common street names tend to have the lowest home values. Look at Main Street. It’s by far the most common street name in America. It’s also the least valuable. Main Street homes are worth, on average, about 4 percent less than America’s median.
On the other side of the spectrum are “Lake” and “Sunset.” Homes on “Lake” average 16 percent more than the national median home value, and “Sunset” homes are a close second.
