Will the temple hurt the resale value of my house?
Long experience has demonstrated that a neighborhood temple does not hurt local property values. In most cases, temples tend to increase local property values.
For a discussion of one study which examined this issue in three different U.S. cities, please see here.
To read of the experience of neighbors and government leaders, see below:
Patricia Gilbreath, Mayor, Redlands, California
“One of the concerns raised during the planning process was property values, and a lot of people were concerned that the value of their property would be reduced, when in fact that was not the case. “People were finding that their property values held very strongly even in the downturn of the economy because of the presence of the temple and the connection with the Mormon church.”
The mayor is here speaking of the Redlands, California temple, which was dedicated in 2003.
Robert Purcifull, Accountant, Newport Beach, California
As far as the effect of the temple on property values in the neighborhood, it has been nothing but a positive for this neighborhood and for this community. People want to come and be close to temples, obviously, and there are people who want to move away. The simple economics of supply and demand will tell you that that demand will increase the attraction of a neighborhood around a temple. Our houses have gone up because of it.”
The Newport Beach, California temple was dedicated in 2005.
Elaine Becker, Windermere, Florida temple neighbor
“I think the property values–the Church has enhanced or kept it stable in this economy.”
The Orlanda Florida Temple, located in Windermere, was dedicated in 1994.