We already knew that New Orleans’ unique above-ground cemeteries attract tourists, amateur photographers, and Nicolas Cage (who owns a pyramid-shaped tomb in St. Louis Cemetery No. 1). But it turns out that the famous cities of the dead also appeal to homebuyers. They’re willing to shell out 6.9 percent more for homes located within a quarter mile of a cemetery, funeral home, or mortuary, according to research by Trulia, a real estate company.
New Orleans tops the list when it comes to metro areas where proximity to graveyards increases home value. Coming in second place is Silver Spring, Maryland, where cemetery-adjacent spaces are worth 6.3 percent more. Philadelphia take the bronze, with a 5 percent increase in home value.
To arrive at these numbers, Trulia mapped U.S. cemeteries, mortuaries, and funeral homes using Yelp and GeoNames. Researchers ran a linear regression model using housing prices as an independent variable and whether that home is within a quarter mile of a cemetery, funeral home, or mortuary as a dependent variable. Researchers controlled for the following variables: bedrooms, number of bathrooms, square footage, and zip code.
Read the full report here.