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New tool highlights public transport accessibility for specific properties

By Mike Wheatley | October 2, 2017
  • A new generation of technology tools are helping real estate agents to highlight one of the main selling points for urban home buyers – a property’s proximity to transportation.

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    One great example of this new technology is TransitScreen, which provides real-time transportation information and also calculates the accessibility of public transit services from any specific location, Curbed.com reported.

    TransitScreen gives each location a MobilityScore rating from 0 to 100 according to its proximity to public transportation services such as buses, trains and taxis. In addition, the service also factors in next-generation transportation options such as ride-sharing services like Uber and Lyft, and bicycle sharing services.

    Anyone can use TransitScreen’s new tool. Simply enter an address or click on a location on the map to find its MobilityScore. For now, the tool can only be used in 35 metro areas in the U.S., but the makers plan to add new cities in time.

    “Transportation is continually evolving, yet as new choices, including ride-sharing, bike-sharing, and car-sharing, emerge, tools for measuring transportation access have not kept up,” said Matt Caywood, cofounder and CEO of TransitScreen. “We created MobilityScore as the solution, a common framework that is future proof and can incorporate current and future transportation choices.”

    Such data is useful because Americans have traditionally always been willing to pay a little more for a property that sits close to public transport. A 2016 study by HNTB Corp. shows that 55 percent of Americans would pay higher rent or take on a bigger mortgage if it meant they could travel to work or enjoy recreational amenities without needing to use a car.

    In addition, the same study found that 51 percent of Americans agree that good public transport links makes a certain area a more attractive place to live.

    Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at [email protected]
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