Does “money grow on trees”?

Trees in your yards and along your streets do much to increase your property values and reduce your costs. Here are some of the ways that trees: 

• Enhance property values: Trees and landscaping make homes more appealing to buyers. Arbor Day Foundation reports that having large trees in yards along streets increases a home’s value from 3 percent to 15 percent. (1) So, with the average Lynnfield home valued at just over $700,000, even a 3% increase translates into $21,000!  
• Present a more saleable house: Real estate assessors recognize that a house on a lot with trees or in a neighborhood with mature trees is up to 20% more saleable. The University of Kentucky developed 3 valuation techniques that professionals use to determine the value of trees. (2)
• Reduce energy use and costs: Trees can have a tremendous impact on reducing energy costs. According to the US Forest Service, just 3 trees properly placed around buildings can reduce air conditioning needs by 30 percent and can save 20–50 percent in energy used for heating. (3)(4)
• Result in higher home values in residential development designs, higher rental rates for commercial properties, wider draw and longer visiting times for retail centers. (5)
• Reduce infrastructure outlay costs and ongoing expenses for our whole town: Towns with leafy tree canopies benefit from infrastructure cost savings for stormwater design and management, energy requirements, prevention of soil erosion and other services. Health-wise, trees contribute to lower asthma rates and other illnesses by removing air pollutants. (3)

References: 

1) “City Trees and Property Values”;  Kathleen L Wolf, PhD, University of Washington (2007) https://www.arborday.org/trees/benefits.cfm

2) Dr. William M. Fountain, University of Kentucky Department of Horticulture, ISA Board Certified Master Arborist. https://ufi.ca.uky.edu/treetalk/trees-treeworth ; https://ufi.ca.uky.edu/treetalk/trees/treeworth-pt2

3) City of Tampa 2011 Urban Forest Analysis: The Structure, Composition, Function and Economic Benefits of Trees and the Urban Forest, September 2013. https://waterinstitute.usf.edu/upload/projects/TampaUEA/Tampa_2011_UrbanForestAnalysis.pdf

4) “Do Living Trees Have Economic Value?” by Lauren Sedger, April 24, 2018. https://www.talesbytrees.com/the-economic-value-of-trees/

5) “Green Cities: Good Health”, University of Washington: Project support provided USDA Forest Service, State and Private Forestry. Summary; Kathleen Wolf, Ph.D., June 25, 2010. http://depts.washington.edu/hhwb/Thm_Economics.html