Home values in states with adult-use legalization have surged an average of $60,327 more over the past 15 years than in states where prohibition remains, according to a new analysis from real estate platform Clever Offers.
The report, covering the period from 2009 to 2024, reveals that home prices in regulated states increased by $222,958 on average, compared to just $162,631 in states without access. This substantial gap underscores the positive economic impact that regulated markets can have on local communities.
Of the top 10 states that experienced the largest home value increases, all but one—Idaho—have implemented adult-use policies. In contrast, among the 10 states with the smallest gains, only Illinois has adopted such reforms.
“Cannabis isn’t dragging down home values,” the report notes. “It’s helping them grow, and states that have yet to legalize it are missing out on thousands in potential home value appreciation.”
Paul Armentano, Deputy Director of NORML, emphasized the broader community benefits: “Regulated markets create jobs, disrupt the underground marketplace, and provide for new tax revenues that are redirected back into the local community — resulting in greater economic growth and prosperity, in addition to safer communities.”
These findings echo a similar 2023 report, which found that from 2014 to 2023, home values in states with regulated adult-use access increased by nearly $49,000 more than those in other states.
The data makes it clear: adult-use reform isn’t just a social policy—it’s a major economic driver.
