Preservation & Property Values in Indiana

Preservation & Property Values in Indiana (Sept. ‘97) - prepared for Historic Landmarks Foundation of Indianapolis, Indiana by Donovan D. Rypkema

“Historic Landmarks Foundation decided property values provided one concrete measure of the effect of local historic districts. To quantify the impact of local districts on property values, we commissioned Donovan Rypkema, a Washington, DC real estate expert. We collaboratively selected representative districts in Anderson, Elkhart, Evansville, Indianapolis, and Vincennes for the study. Rypkema’s study methodology, detailed on the next page, centered on Multiple Listing Service and U.S. census data. I’m pleased to report that our instincts are solidly verified by the numbers. As this study shows, property values rise with local historic district designation, equaling if not outpacing similar, undesignated areas and often the performance of the city
as a whole.”