Legalization is sweeping the nation and it’s not going unnoticed. A recent survey conducted by housing company Redfin found that 46% of respondents said that they would either “prefer” to live in a legalized state or that they would “only” live in a legal state. Many had no opinion, and a small group preferred not to or would not want to live in a legal state. What might this mean for property values in states where cannabis is legal? Better yet, what might this mean for the future of cannabis legalization?
Many Americans now desire to reside in a state where “marijuana is fully legal,” according to a new survey by housing company Redfin.
In the survey of people who recently moved, 46% of respondents said that they would either “prefer” to live in a jurisdiction where cannabis was legal or that they would “only” live in a state with legalized cannabis. 22% of respondents did not want to reside in a legalized cannabis state. 32% of respondents had no opinion.
Studies have previously reported that cannabis legalization is correlated with increased property values, NORML stated.
Data reported in July concluded, “[T]here is strong evidence that legalization drives higher property values — particularly in areas that allow recreational marijuana and welcome retail dispensaries. … These investments can improve quality of life in communities across the nation while attracting tourism and new residents who drive real estate demand.”
Separate data have shown that states experienced spikes in tourism following adult-use (recreational) marijuana legalization.