Blog
June 11, 2024
Fiber Internet Increases Home Values
Did you know? Connecting your home to a fiber Internet network could increase your home value by up to 4.9%!
Move over, kitchens and bathrooms—fiber internet has become a top must-have for homebuyers. With the growing need to work, learn, and access telehealth from home, modern lifestyles demand the high-speed reliability of a fiber network.
In fact, a 2023 study revealed that fiber internet can boost a home's value by nearly 5%. On average, U.S. consumers would require a 4.9% price reduction for a non-fiber home, a 3.2% reduction for a non-fiber condo, and a 12.8% reduction for a non-fiber apartment.
What's the Data Saying?
The Fiber Broadband Association's (FBA) 2023 consumer research study emphasizes that fiber is no longer a luxury—it's a necessity. U.S. consumers rated high-quality broadband as the second most important home amenity, right after a laundry room.
Nearly two-thirds of consumers consider fiber the best method for internet service in terms of speed and reliability. Moreover, research shows that investment in broadband networks correlates with improved economic performance. Communities with fast, reliable fiber networks often experience higher per capita GDP.
Fast and Reliable Internet for Remote Workers
The internet is essential not only for communication and entertainment but also for the American white-collar workforce. As of June 2023, over 40% of Americans worked remotely full-time or part-time, making fast, secure, and reliable internet indispensable.
Remote workers prefer fiber internet because it is significantly faster and more reliable than cable internet. While cable internet speeds typically range from 10-250 Mbps for downloads and 5-50 Mbps for uploads, fiber internet can offer 250-1,000 Mbps for both downloads and uploads—a crucial advantage for using video conferencing tools at home.
The Future of Fiber
Even those who don't work from home are increasingly seeking high-speed internet for telehealth applications. Five times more patients use telehealth services now than before the COVID-19 pandemic, and this number is expected to grow.
The National Telecommunications and Information Administration's (NTIA) $42 billion Broadband Equity, Access, and Deployment (BEAD) program is addressing these needs. According to the FBA, the amount of fiber to be deployed over the next five years will nearly equal the total amount of fiber deployed throughout history.
The Bottom Line
Better broadband leads to higher property values, more opportunities for remote work, and enhanced access to digital services like telehealth and streaming. These improvements foster innovation, job creation, upward mobility, entrepreneurship, and local business growth, while also attracting new businesses.
Fiber brings significant benefits to communities, which is why it also increases individual home values. To learn more about fiber availability at your home, contact Highline today. We'd love to get you connected!