BOSTON (TheStreet) -- You'll need a lot more than beer money to live near one of the five stadiums that Trulia.com recently found are in the most expensive neighborhoods among Major League Baseball parks.
"Many stadiums -- even those that have been rebuilt in recent years -- are in locations chosen long ago, and popular retail and restaurants have built up around them over the years," says economist Jed Kolko of Trulia (TRLA) , which recently analyzed home prices near MLB ballparks. "They're also in [downtown] neighborhoods that tend to be expensive ... in particularly expensive parts of already-expensive cities"
Trulia found that houses and condos near Big League parks list for nearly 50% more per square foot on average than homes do overall in each metro area studied.
But the site also discovered that asking prices near stadiums range widely -- from as little as $28 per square foot in the cheapest MLB neighborhood to more than $650 a square foot in the priciest one -- found, of course, among East and West Coast cities that have fancy downtown neighborhoods popular with well-heeled urban professionals.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV