If you own a home near the site of the impending Mercedes-Benz Stadium, don't get your real estate hopes up too high.
An analysis by real estate website Trulia suggests the Atlanta Falcons' new home, slated to open June 2017 just feet away from where the Georgia Dome now stands, likely won't help your home value. But it won't necessarily hurt it, either.
Trulia estimated the percentage of home value difference between homes within 2 miles of NFL stadiums across the country and other homes in the region, controlling for square footage, lot size, age, zipcode and number of bathrooms and bedrooms per house.
Trulia's research showed there's no guarantee home prices will rise or fall in response to a new NFL stadium in the area — including Atlanta.
The Georgia Dome has been home to the Falcons since 1992, but it's not having much effect on the homes around it: Houses within a 2-mile radius of the stadium have the same average value as other homes in the area, according to Trulia. However, renters in the area tend to charge 2 percent more than would an Atlanta renter slightly further away from the Dome.
But every stadium is different: Houses around the Philadelphia Eagles' Lincoln Field cost about 44.3 percent more than other homes in the region. Meanwhile, homes within two miles of the Pittsburgh Steelers' Heinz Field tend to have 18 percent less value compared to other homes in the region.
Trulia's research suggests the neighborhood surrounding the stadium could determine whether house prices will rise or fall around a certain stadium — regardless of how attractive the new structure might be to residents and sports fans.
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