If someone is murdered in a California neighborhood, the drop in home value can be more than $17,000, reports 24/7 Wall St. staffer Paul Ausick.
In 2014, the market value in these neighborhoods as a whole dropped more than $560 million. Last year, California had the highest number of homicides than any other state, with 1,697 murders. Along with California, Massachusetts, New Jersey, and Maryland also experience market loss from continuous homicides.
Personal finance website finder.com used research from the University of Technology Sydney that found that a murder committed within two-tenths of a mile reduces the value of a property by 4.4%. As the website notes, “Not only are people creeped out by the thought that someone has been killed, a murder creates a perception that the area is generally less safe and has a higher crime rate.”