Marihuana legalisation is contributing to a new housing boom
House prices in states that legalized marihuana have skyrocketed.

Real estate values in states that allow recreational cannabis use have seen a boost, according to a new study. The Clever Real Estate study found that states that have legalized recreational cannabis have seen house prices rise faster than states that have not. "Between April 2017 and April 2021, states where marijuana is legal for recreational use rose $ 17,113 more, compared to states where marijuana is illegal or restricted for medical use," the report said. To date, thirty-six states and Washington D.C. Legalized cannabis for recreational or medicinal use. "Over the past four years, Illinois homeowners have increased their real estate values by an average of $ 18,000," noted Michelle Delgado, a researcher at Clever. "Legalized marijuana also brought in $ 52.7 million in new tax revenue." "Illinois marijuana tax revenue covers administrative costs associated with legalization," Delgado added. "Leftover funds are then split between criminal law reform programs, drug abuse programs, and statewide and general taxpayers' money." Illinois has 99 dispensaries, 94 of which sell recreational cannabis. In 2020, the values rose in almost every state in the United States. Delgado said they checked for other factors like recent home increases. "Our study actually checked for other factors like population or past home values to isolate the effects of marijuana legalization," she said.
