America’s 5 Most Historic Cities ‘May Hold Value Better’
October 15, 2018
Some home buyers may be drawn to the cachet of owning a property with a rich historical past, but there are more benefits than status. “Historic districts tend to hold their value better during economic downturns, and they appreciate more during upswings,” Tom Mayes, vice president for the National Trust for Historic Preservation in Washington, D.C., told realtor.com®. These areas come with “built-in character. They have a uniqueness and distinctiveness.”
But buyers need to do some research before they purchase a historic property. Older homes can require more burdensome maintenance and updating, and there may be some restrictions on remodeling. Realtor.com®’s research team analyzed 500 of the largest urban areas in the U.S. to identify the areas with the most historic homes. They looked at the per capita number of properties listed on the National Register of Historic Places and the number of historic landmarks, as well as the property description of homes in those markets. The following are America’s most historic cities, according to realtor.com®:
1. Cambridge, Mass.
- Median list price: $949,000
- Properties listed on the national register: 209
2. Charleston, S.C.
- Median list price: $305,000
- Properties listed on the national register: 100
3. Davenport, Iowa
- Median list price: $139,900
- Properties listed on the national register: 251
4. St. Louis
- Median list price: $174,900
- Properties listed on the national register: 435
5. Santa Fe, N.M.
- Median list price: $496,500
- Properties listed on the national register: 61
“National Treasures: Top 10 U.S. Cities Where You Can Live in a Piece of History,” realtor.com® (Oct. 15, 2018)
Updated: November 20, 2018