Does Medical Marijuana Hurt Housing Markets?
Does Medical Marijuana Hurt Housing Markets?
How Medical Marijuana Can Boost Business Sales and Increase Housing Markets
For many Floridians, up until this year and the legalization of medical marijuana, the idea that a pot business would actually increase the value AND desirability of your neighborhood would be pretty far fetched. However, it appears that since the law passed values have steadily increased in both residential and commercial markets.
Where Can Dispensaries Build a Location?
Commercial vendors have strict guidelines they need to adhere to in order to successfully open a dispensary, like not being within 500 feet of a school for instance. But as the traditional brick and mortar establishments seem to be waning thanks to the convenience of internet shopping, medical marijuana businesses are breathing new life into retail areas all over the state. In turn this is bringing in new profits for surrounding businesses at a rapid pace.
This is also proving to be true in terms of residential home sales and development. As the law expands and more and more patients are able to obtain their legal marijuana cards, areas of Florida that are concentrated in medical dispensaries have experienced an upswing in housing prices.
A few of the larger cultivation companies, like Trulieve based out of Tallahassee, have been growing over the last year, and opening up several dispensaries all over the state. Some residents and others are looking for jobs within the medical marijuana industry, others are potential patients, and some entrepreneurs are interested in joining this hot business venture. In any case, this can result in an increase in demand for housing and may prove to be valuable for landlords as the housing supply drops.
More Benefits for Medical Marijuana in Florida
What this seems to be proving to those state legislators who were initially turned off to the idea of legalizing medical marijuana, no matter how much evidence there was of the medical value of it, is that there are certainly more benefits for the state of Florida than meets the eye.
What do you think? Does Medical Marijuana Hurt Housing Markets? Get in touch and we’ll get back to you as soon as we can.
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