A recent study by the New Jersey State Policy Lab, “Does the Decision to Allow Local Cannabis-Related Businesses Impact Home Sale Prices?” by Michael S. Hayes, Associate Professor, Rutgers University-Camden and Prakash Kandel, Ph.D. Student, Rutgers University-Camden, evaluated whether opting in or out of the recently legalized cannabis-related business affected home prices.
Different real estate agents weighed in saying that it is too early to measure the impact these businesses have on home values. They concurred with the researchers about one thing, “…there is suggestive evidence that allowing cannabis-related businesses does not negatively impact home sale prices, at least in the short-run.”