If you thought that late-night noise, traffic and fans surrounding outdoor concert venues was a turn off to homebuyers, you might have thought wrong.
Turns out homeowners not only want to be near restaurants and shopping, but they also are attracted by homes within walking distance of outdoor music venues. In fact, a new analysis by Realtor.com has identified 20 such spots where homes within walking distance actually see at least a 9 percent premium in price compared with the surrounding area.
Realtor.com’s chief economic, Jonathan Smoke, compared realtor.com’s residential sales and deed database with outdoor venue information provided by the independent ticket marketer Vivid Seats. His team examined home prices within a mile of 68 outdoor concert venues, comparing them with home prices in the surrounding ZIP code.
Topping the list at No. 1 is Capital City Amphitheater in Tallahassee, Fla., where the median-priced homes within walking distance are 78 percent more expensive (at $177,500) than the surrounding ZIP code. At No. 2 was OKC Amphitheatre in Oklahoma City, where homes with a mile of the venue were 68 percent more expensive (at $49,500) than the surrounding ZIP code. And, good news for Angelenos: Homes within a mile of the historic Greek Theatre, the third-place venue, were worth 63 percent more than their neighbors farther from the venue, with a median price of $2.1 million. “Live events like concerts add so much to a community,” said Vivid Seats spokesperson Julia Litz. “The added foot traffic aids local business, while the culture and vibrancy of the event add excitement. Plus, for residents of the neighborhood there’s the added benefit of simply walking to and from the venue.”
Here, the areas where walkability to a music venue means higher home prices:
| Ranking | Venue | Home Prices Within 1 Mile of Venue | Home Prices in ZIP Code | Venue vs. ZIP Code |
| 1 | Capital City Amphitheater (Tallahassee, Fla.) | $177,500 | $100,000 | 78% |
| 2 | OKC Zoo Amphitheatre (Oklahoma City) | $49,500 | $29,500 | 68% |
| 3 | Greek Theatre – Los Angeles (Los Angeles) | $2,100,000 | $1,285,000 | 63% |
| 4 | Investor Amphitheatre (Gainesville, Ga.) | $199,450 | $125,000 | 60% |
| 5 | Cincinnati Playhouse In The Park (Cincinnati, Ohio) | $319,750 | $219,750 | 46% |
| 6 | Oregon Zoo Amphitheatre (Portland, Ore.) | $700,000 | $494,950 | 41% |
| 7 | The Levitt Shell (Memphis, Tenn.) | $210,000 | $150,500 | 40% |
| 8 | Surly Brewing Festival Field (Minneapolis) | $316,500 | $232,250 | 36% |
| 9 | Weesner Family Amphitheater at the Minnesota Zoo (Apple Valley, Minn.) | $249,900 | $193,500 | 29% |
| 10 | Ravinia (Highland Park, Ill.) | $605,000 | $487,500 | 24% |
| 11 | Tallahassee Pavilion (Tallahassee, Fla.) | $120,000 | $100,000 | 20% |
| 12 | Sawyer Point Park (Cincinnati) | $260,500 | $219,750 | 19% |
| 13 | Madera Fairgrounds (Madera, Calif.) | $237,000 | $205,000 | 16% |
| 14 | Red Hat Amphitheater (Raleigh, N.C.) | $300,500 | $260,000 | 16% |
| 15 | Clarke County Fairgrounds (Berryville, Va.) | $315,000 | $273,950 | 15% |
| 16 | Wolf Trap Farm (Vienna, Va.) | $882,500 | $780,000 | 13% |
| 17 | Ascend Amphitheater (Nashville) | $307,000 | $275,000 | 12% |
| 18 | Ravina on the Lakes (Peoria, Ill.) | $177,000 | $160,950 | 10% |
| 19 | Concord Pavilion (Concord, Calif.) | $575,000 | $525,000 | 10% |
| 20 | Bayfront Park (Miami, Fla.) | $392,500 | $358,500 | 9% |