Source:  Penn Institute for Urban Research

Date Published: 10.29.2025

Link: Shane Jensen on the Price Effects of Greening Vacant Lots

Philadelphia, a city long plagued by property abandonment, has been a pioneer for remediation programs, among which include “greening” vacant lots. Vacant lot “cleaning and greening” encompasses converting vacant lots into green spaces. This study builds on the neighborhood greening literature and, by utilizing a difference-in-difference methodology, finds a positive and significant impact of vacant land conversion, with an associated average increase in the value of nearby properties of 4.3%. The effect is more pronounced in specific types of neighborhoods, particularly those with higher-than-average median incomes, higher-than-average shares of vacant land, and low-to-average crime rates. There is little to no price effect in areas with very low and very high incomes. Beyond its impact on housing prices, greening vacant lots appears to be less comprehensive than other neighborhood-level policies; however, it still offers a proven policy solution in neighborhoods most severely affected by blighted properties.