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Does home value increase based on proximity to freeways?

Are there any stats on what is the increase in home value based on the proximity to the freeways?
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September 25 2012 - US
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Profile picture for Pasadenan
Values definitely decrease next to freeways due to noise, air-pollution, and dust.  That may be quantifiable with some substantial effort. (Zillow's index trends don't have that fine a region).  The only potential increase in desirability of freeway areas is the reduction in commute time and the potential reduction of surface street traffic in neighborhood areas.  Your local city or county may have some traffic study models they can refer you too, but it won't be directly correlated to housing prices.

Your best source for that kind of data may be the U.S. census block and block group data on housing costs.  But that doesn't properly factor in how long the homes have been owned.

You could also use the "recently solds" and "presently listed" on Zillow to do your own measuring to the freeways and freeway on-ramps and do your own curve fitting.

Many public health departments do have statistics on the health impacts of freeway truck traffic in the vicinity of housing.
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September 25 2012
 I don't know about any stats but in most cases being within earshot or being able to see a freeway detracts from a homes value. 
Now depending on where you live most folk like the convenience of having a freeway or public transport within a short distance but seeing it or hearing it is not high on most buyers lists.
  There are of course exceptions and some people like to see the activity of movement and commerce on a highway and most of the time living within earshot the hum of the traffic tends to disappear. 
 To each their own.  
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September 25 2012
You will not find any stats pertaining to value increases or decreases based on the proximity to freeways.

In my opinion, if you are a commuter and are a reasonable distance to freeway access, that may be a positive factor in deciding to by that particular house.

If the house is adjacent to the freeway, you probably will see a decrease in value due to noise, pollution and dust.

How close to the freeway is the house in question?
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September 25 2012
 
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