Redfin, a real estate brokerage, just launched Opportunity Score, which rates homes based on the number of jobs within a 30-minute car-free commute.
Opportunity Score gives homes a rating between 1 and 100, with 100 representing a home with the most job access. Scores are also weighted by population in the area.
Opportunity Score is now available in over 350 cities across the U.S. As of yet, the Opportunity Score doesn't appear to be easily accessible through the normal navigation of the general Redfin website.
“Where you live can have enormous implications for your family’s economic stability and upward mobility,” Redfin chief economist Nela Richardson said. “A family may be able to find an affordable home to buy or rent, but if it’s far from quality jobs, highly-rated schools and other amenities, it could hinder the family’s chances to get ahead.”
This new scoring system caters to two growing trends.
The first is the growing lifestyle choice of not wanting to rely on a car. In fact, shorter commute times is at the top of the priority list for today’s American workers.
Second, as housing becomes less affordable, many who are not at the top of the pay scale move further out into the suburbs. This then leaves those with less economic resources with the furthest commutes.
In addition to Redfin’s new Opportunity Score, it also has several other tools including Walk Score, Bike Score and Transit Score, enabling potential homebuyers to get a better feel for the neighborhood.
“The bottom line is that everyone deserves opportunity,” said Eric Scharnhorst, livability analyst for Redfin who led the development of Opportunity Score.
The Redfin Opportunity Score incorporates employment data from the U.S. Department of Commerce, transit network data from Walk Score and housing data from Redfin.