In the last few years, green and high-performance properties have captured a large share of the new home market in the U.S.—and this trend is only expected to grow. As an appraiser, you know it takes a certain level of specialized knowledge and skill to value these types of complex properties. Do you work in an area where it makes sense to specialize in green home appraisals? Here’s an overview of the top real estate markets for green homes.
Top 10 states for LEED-certified homes
LEED (Leadership in Energy and Environmental Design) is the most widely used green building rating system in the world, providing a framework for healthy, efficient, and cost-saving green buildings. The U.S. Green Building Council reports that LEED-certified homes have grown substantially since 2017, with more than 400,000 units located in the U.S. as of August 2019.
According to the USGBC report, the top ten 10 states for LEED-certified residential buildings are:
- New York
- New Jersey
What other factors are at play?
LEED certification is only one factor to consider when determining the best markets for green homes. Another recent study by Policygenius ranked each state from best to worst by looking at not only the number and gross square footage of LEED-certified homes, but also the amount of green home financial incentives and regulatory policies, the strength of their solar energy industry, and the strength of their wind power industry.
The best and worst overall markets for green homes
According to the Policygenius study described above, the 5 best states for green homes are:
- New York
The 5 worst states for green homes are:
- Rhode Island
- West Virginia
View the full rankings to find out where your state falls in the list.
Do you operate your appraisal business in one of the top real estate markets for green homes? Are you noticing an uptick in the number of LEED-certified buildings or the popularity green home features in your local area? Sharpen your skills and get ahead of the competition by becoming a Certified Green Home Appraiser.