Real estate

Homeowners See Green: How Do Marijuana Dispensaries Affect Property Values?

According to a recent survey, 85% of realtors say they have seen no change to property values near dispensaries

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As marijuana dispensaries are on the rise with more states opting to legalize the recreational use of the drug, some may wonder how other industries are being affected by it, if at all.

One industry that is actually not seeing much of a change is real estate.

According to a recent survey from the National Association of Realtors, 85% of realtors say they have seen no change to property values near dispensaries. 

As a matter of fact, 8% have actually seen property values go down, while another 8% witnessed a rise in property values.

Recreational marijuana use for people over 21 is now legalized in 11 states and D.C. 33 states have legalized medical marijuana.

Although it is becoming more acceptable to use marijuana recreationally, realtors are still developing tight restrictions on where it can be smoked.

“41% of property owners add lease addendums restricting smoking and 11% add addendums regarding growing in the rental” said a recent survey.

Medical Marijuana Dispensaries in the D.C. Area

Credit: Anisa Holmes/NBC Washington

Interested in reading more about the real estate industry in response to marijuana dispensaries? Check out the National Association of Realtors’ full report

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