In addition to housing nearly 80 threatened or endangered species, the Everglades also provide drinking water for nine million Americans. Restoring the Everglades is therefore critical to the health of millions. However, restoration also offers a number of other benefits to Florida’s real estate market.
Read on to learn how restoring the Everglades may contribute to real estate prosperity!
Water Quality & Florida Real Estate
As Florida Realtors President-elect Christina Pappas explains:
“Real estate and water quality go hand-in-hand.
Florida Realtors has advocated for water quality improvements for many years and will continue to champion worthy projects, like Everglades restoration, throughout Florida to ensure that environmental impacts on real estate are addressed.”
Over the last century, the natural flow of water from Lake Okeechobee to the Everglades has been cut by manmade diversions and flood control projects, leading to a large influx of freshwater to Caloosahatchee and St. Lucie Rivers. This water is now polluted with algae, which poses a threat to both public health and real estate values.
Fortunately, restoring the Everglades will revive a flow of fresh water from Lake Okeechobee, improving drinking water and increasing property values.
The Everglades & Florida Property Values
In 2015, Florida Realtors issued a report that demonstrated a direct relationship between water quality and home values in Lee and Martin counties. According to the report:
“[I]mproved water quality and clarity would generate increased, aggregate residential real estate values in Lee County by $541 million, and Martin County by $428 million.”
Florida Governor Ron DeSantis has made restoring the Everglades a top priority, allocating $342 million for the restoration efforts (state congressional leadership will also be petitioning the federal government for $725 million a year over the next four years to keep the project rolling).
All of these efforts point to a positive future not only for Florida’s environment, but also its state economy and real estate market.
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