Most Expensive Baseball Stadiums to Live By

[finehoe]

Just in time for opening day, real estate firm Trulia created a chart of the most expensive baseball stadium neighborhoods for homebuyers.



Note: The final column in the table above is the ratio of stadium-area median price to metro median price. Values above 1 mean the stadium area is more expensive than the metro area overall.

[I-10east]

#10 had a disastrous opening day because of renovations. People peeing in beercups because of super long restroom waits, and an unsightly construction site in the bleachers area outfield. Jeff Prosser had me rolling, he called the Wrigley Field's bleachers construction "Sarajevo in the 80's". They should've used opaque tarps to cover the construction site, not see through new residential fence thingys. Despite the snowy season, I betcha Mark Lamping would've found a way to make Wrigley complete on time.

http://www.azcentral.com/story/sports/heat-index/2015/04/06/wrigley-field-was-a-disaster-on-opening-day/25357393/

[thelakelander]

Sounds like a nightmare. It took the heat off the Marlins' rain delay........in a stadium with a retractable roof!

South Florida weather, especially those late-afternoon storms, can be unpredictable -- even for meteorologists. For amateurs? Forget about it.

All of this brings us to Opening Day between the Atlanta Braves and host Miami Marlins, holding just their third season-opener game at Marlins Park. You know, the stadium with the retractable roof meant to stave off the rain delays that marred play at the Marlins' old home for so many years?

Well ...

http://espn.go.com/sportsnation/post/_/id/12631427/miami-marlins-experience-opening-day-rain-delay-having-retractable-roof

[mbwright]

Why is Angel Stadium on the list, when at 0.9, is actually less expensive than the surrounding area.  Just typical Orange County high house prices.

[simms3]

^^^Same goes for San Francisco, LA, and San Diego (in terms of much lower, if not outright low multiples of entire metro).  CA cities are anomalies.

The better comparisons would be:

Wrigley Field to other neighborhoods that border the lake from the Kennedy, going south from Devon down to Near North Side.  Is there some sort of pop in value to living by Wrigley?  Also, Boystown/Lakeview are right there are huge potential impacts to value, as well, so there might be overlap in why values might go up.  I don't believe Wrigley and Boystown have direct historical relationship to each other and that both just happen to be right there.

Fenway's immediate surrounding area isn't particularly desirable, but it just so happens that part of the Back Bay is right there, as well as other neighborhoods like Brookline and Allston, and BU.  This part of Boston definitely has the most greenspace and probably the most cultural attractions with the MFA right there.  Not sure how one can conclude that the baseball stadium alone drives a 4.9x multiple to the metro when there's probably a ~4x multiple at least between Boston and much of the rest of that metro, no matter where one is in the city.

Seattle - nobody lives right near Safeco Field.

Padres - that number seems low (<$500psf to live in DT SD?).  The setup with the Padres and Gaslamp is easily top 5 in the country.  Superbly executed.

San Francisco - AT&T Park, probably in the 2nd or 3rd best baseball stadium neighborhood setup in the country, easily.  Better comparison would be South Beach to San Francisco as a whole.  People actually do live all around the stadium, across the street, etc etc.  It and Wrigley Field would be the best comparison overall for this reason.  I think AT&T would be even better because there are no other huge drivers in that neighborhood other than the baseball stadium and one can trace the rise of the neighborhood directly to the construction of that stadium, and subsequently to the T Third LRT line.  I don't think you'll see a 1.5x multiple on pricing to the rest of SF, but for rents (in my opinion a better comparison because stadium neighborhoods are more typically RENTER neighborhoods) you'll see probably a 1.25-1.5x pop in rent.  Maybe a 1.1x pop in for-sale pricing.

[Overstreet]

#10 had a disastrous opening day because of renovations............

Chicago Cubs fans are used to being disappointed.

[tufsu1]

^ Back to the Future II says not this year!

[Steve]

Yea, don't know if I buy this. Citi Field is right next to some of the best illegal chop shops in the Tri-State area. No one lives there.