A recent analysis by Trulia considers how much value lies in the name of the street you live on. They compare the price per square foot across the many different ways of naming a street, and conclude that living on a “boulevard” has the highest property value, while living on a “street” has the lowest.
The gap between the highest ($117) and the lowest ($86) means that living on a “boulevard” is worth 36% more than living on a “street”. Trulia explains what is the likely cause.
Why is “boulevard” the most expensive address suffix? Well, while the word does have a sophisticated French origin, it actually might have more to do with the mix of the homes located there. Approximately, 37% of homes on “boulevards” are in multi-unit buildings, such as apartments and condos. In contrast, these types of homes make up no more than 16% of homes on every other address suffix. A greater concentration of multi-unit buildings could drive up costs as they are often located in denser, urban areas where space is at a premium.
