The future Inglewood NFL stadium, where Los Angeles's first pro football team in decades—the Los Angeles Rams—will play isn't expected to host its first game until 2019, but it's already rousing new interest in the stripmalls, empty storefronts, and commercial real estate in the area. But what, if anything, could a new stadium do for Inglewood's housing market? Trulia says that right now Inglewood's home prices are about 8.9 percent lower than the regional average (rents are nearly 5 percent below the regional average), so they could use the boost, but the real estate listings and data site warns that many newer stadiums "by and large, have failed to lift the fortunes of homes in nearby areas."
For their assessment, Trulia looked at the housing values and rental prices in a two-mile radius of existing NFL venues, "evaluated changes to home values near stadiums built in the last decade, and examined the areas around the proposed new sites in Los Angeles." They found that, of the 31 stadiums in which pro teams play, two-thirds averaged higher housing values than in areas farther from the stadium, but also that "During the last 10 years, five new pro football stadiums have opened and none, so far, has had a noticeable impact in raising home values" within that two-mile radius. With the Cowboys' AT&T stadium near Dallas, for example, housing prices have gone down compared to the Arlington, TX area since the stadium's 2009 opening.
The Inglewood stadium, though, would have more going for it than just football. Right alongside the Rams' new home, a gigantic mixed-use project is set to rise too, bringing a shopping, office, residential mix that will also hold NFL offices and be a base for the league's TV production. (It's been called "NFL Disneyland".) "We think it's going to boost property values," an LA real estate agent tells Trulia. "This is an area with a lot of property that can be developed. We're expecting lots of growth."
· Field Position: Does An NFL Stadium Boost Your Home Value? [Trulia]
· The Future LA Rams Stadium is Already Driving a Real Estate Feeding Frenzy in Inglewood [Curbed LA]