ACRGF - The Marijuana Dispensary Around the Corner Isn't Hurting Property Values Realtors Study Finds
A recent survey done by the National Association of Realtors found that proximity to a marijuana dispensary doesn't usually have an adverse impact on property values.
In states where only medical marijuana is legal, 85% of Realtors said they saw no change in the values that were located close to a dispensary. That percentage dropped a little, down to 75%, in states where both medical and recreational marijuana have both been legal since 2016. In states that legalized recreational and medicinal pot before 2016, that percentage fell to 60%.
But while there were some decreases in property values relating to a nearby marijuana business, even in the states that fully legalized pot prior to 2016, only 5% of surveyed Realtors said that they had seen "substantial" decreases. And on the flip side, 4% said they had seen valuations rise substantially for similarly situated properties.