Media Station, Other SEPTA Stops Increase Suburban Property Values, Study Says

Written by Eric Campbell

A study from Econsult Solutions for SEPTA has concluded that suburban homes near SEPTA stations enjoy a bump in property values.

The firm, analyzing 2005-2012 home sales throughout Montgomery, Delaware, Chester and Bucks counties, found an average premium of $7,900 per property. Homeowners near high-traffic stations saw even bigger boosts, averaging more than $30,000, according to the study.

SEPTA announced in September it would have to shut down service on some lines without more funding, starting next year with the Cynwyd Regional Rail line and then the Media/Elwyn Regional Rail line in 2015. The state Senate has passed more funding, as reported by CBS Philly and others; the House has yet to vote on it.

At September's Media Borough Council meeting, President Brian Hall said the R3/Media-Elwyn is at the top of SEPTA's list and asked that residents contact their local legislators—Rep. Tom Killion, Sen. Ted Erickson, Sen. Dominici Pileggi and Gov. Tom Corbett—to let them know how important it is to fund SEPTA.

The Philadelphia Inquirer reported the Econsult study—which can be read in full here—cost SEPTA about $5,000 plus "data and in-kind services".

What do you consider are the pros and cons of living near a SEPTA station? Please tell us in the comments section below.