What Value Does a Garage Add to Your Home?

June 7, 2019
Photo: Unsplash/Kevin Wolf

In Chicago, Redfin found that homes with garages sell for an estimated 38 percent more than comparable homes without them, the highest percentage of any U.S. metro.

The 38 percent premium translates to an extra $46,745 for Chicago’s typical home. The city is followed by fellow midwest metros St. Louis (35.1%; $34,352) and Columbus, Ohio (24.2%; $24,154). 

The five metros where garages are worth the most—Chicago, St. Louis, Columbus, Oklahoma City and Cleveland—are all located in the Midwest, where winters tend to be cold and snowy. Garages aren’t as valuable in places with warmer year-round climates like Honolulu, Los Angeles and Austin.

But in Raleigh, North Carolina, a garage is correlated with just a 2 percent premium ($3,961), the lowest of any metro, followed by Austin (3.2%; $9,522) and Los Angeles (3.5%; $25,978).

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