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Data center hubs lift home values in select US counties, NAR finds
NAR data show counties hosting 10 or more data centers had median home values of $431,750, versus $174,500 in counties without data centers.
A new report from the National Association of Realtors finds that data center development can be linked to stronger local housing outcomes, but that the impact is highly dependent on where the facilities are built, with no single nationwide effect. Using data across 3,200 U.S. counties, NAR said 92 percent of counties do not contain any data centers within their boundaries. Instead, 10 counties hold nearly half of all U.S. data centers, accounting for 42 percent of the national total, including Loudoun County and Prince William County in Northern Virginia at 19 percent combined. NAR also reported clear differences between housing markets in data center clusters and those without. In counties with more than 10 data centers, the median home value was $431,750, compared with $174,500 in counties without data centers. NAR further said home values rose 95 percent between 2014 and 2024 in the higher-density counties. The report attributed stronger outcomes to broader local economic performance, citing that median incomes were $89,000 in data center cluster counties versus $64,000 on average in communities without data centers, and that employment grew 16 percent versus 2 percent over the same period. Commercial Observer noted the findings align with NAR’s view that counties with more data centers also tend to have higher incomes, younger populations, and more college educated residents, all factors associated with stronger housing demand.