ST. LOUIS — From 2009 to 2024, home values increased by $60,327 more in states where recreational marijuana is now legal than where it is illegal, according to a new report from Clever Offers, a platform owned by Clever Real Estate.
In 2024, the typical home in a recreational state was worth $447,635 — about 39% or $126,731 more than in non-recreational states ($320,904).
States with legal recreational cannabis have seen home values climb by $222,958 over the past 15 years, compared to $162,631 in states where it is illegal — a $60,327 difference.
Of the ten states with the highest home value increases since 2009, all but one, Idaho, have legalized cannabis in some form:
- California ($492,520 increase in home values since 2009)
- Hawaii ($446,247)
- Washington ($342,414)
- Massachusetts ($340,127)
- Colorado ($336,774)
- Utah ($320,372)
- Idaho ($300,309)
- Nevada ($296,493)
- Oregon ($275,826)
- New Hampshire ($273,238)
Conversely, nine of the ten states with the lowest home value growth over the past 15 years have not legalized recreational cannabis, with Illinois being the only recreationally legal state on the list:
- Louisiana ($46,820)
- West Virginia ($67,214)
- Mississippi ($69,036)
- Arkansas ($94,646)
- Oklahoma ($100,226)
- Iowa ($102,538)
- Alabama ($103,466)
- Illinois ($103,955)
- Kentucky ($106,230)
- North Dakota ($108,117)
Similarly, homes in states where medicinal marijuana is now legal are currently worth about $390,117 — about 18% more than homes in states where cannabis is illegal ($329,850).
From 2009 to 2024, medicinal states’ home values climbed by $22,185 more than illegal states’ home values ($194,813 vs. $172,628 growth, respectively).
Had Ohio, Minnesota, and Delaware — the latest to legalize — done so when the first states, Colorado and Washington, did, their projected home values could be $96,890 higher on average today.
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