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Study: Home values near Wrigley Field rank 9th among U.S. ballparks

Wrigleyville homeowners may gripe about game-day noise and rowdy crowds, but it doesn't seem to be affecting home values, according to a study by real estate website Trulia.

Wrigley Field places ninth among U.S. Major League Baseball stadiums ranked by the premium that homes nearby command, Trulia reported. The median value of a home within a mile of the ballpark's ivy-covered walls is $255,475 — 22.3 percent above median home values in the rest of the Chicago metropolitan area, according to Trulia's data.

The study compared the median value of homes within a 1-mile radius of big-league stadiums with the median home value in the rest of those metropolitan areas on March 1.

Of the 29 ballparks, 18 had higher median home values than the rest of the cities in which they reside, according to Trulia.

Stadiums in higher-priced neighborhoods tended to be newer, with just two of the 14 ballparks built after 1999 in neighborhoods with lower median home values than the surrounding metropolitan area.

But both Wrigley Field and Boston's Fenway Park — the league's oldest ballparks — are icons that buck that trend, Trulia reported. Fenway Park had the third-biggest gap between median home values in its neighborhood and the city overall.

While the findings might be good news for Wrigleyville homeowners, renters are also paying a premium to live near the Chicago Cubs' home turf. Average rents within a mile of the stadium are 11.8 percent higher than the city overall, according to Trulia.

Homes near the Chicago White Sox's U.S. Cellular Field were also pricier than the average Chicago home, but commanded less of a premium than the average across all major league ballparks. Overall, median home values within a mile of stadiums were 15 percent higher than the broader metropolitan areas in which the stadiums are located, according to Trulia's study.

The New York Yankees' Yankee Stadium had the priciest real estate, with a median home value 81.7 percent higher than the overall New York metropolitan area. At the other end of the spectrum, in Oakland, Calif, the area around O.co Coliseum, home to the Athletics, has relatively cheap real estate, with home values 55.9 percent less than Oakland-wide home values.

lzumbach@tribpub.com

Twitter @laurenzumbach

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