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Redfin Launches Opportunity Score to Rate Homes Based on the Number of Jobs within a 30-Minute, Car-Free CommuteRedfin (www.redfin.com), the next-generation real estate brokerage, today launched Opportunity Score. The Redfin Opportunity Score is a rating from 0 to 100 that measures the number of jobs within a 30-minute, car-free commute from a given address. An Opportunity Score of 100 represents a home with the most job access, and scores are weighted by population. Opportunity Score is currently available in more than 350 cities across the country. The Redfin Opportunity Score aligns with two major trends influencing how people live today. First, shorter commute times are top priority for today's American worker. Many people do not want to own or rely on a car to get to work as a lifestyle choice. Second, as housing becomes less affordable in urban areas, people who are not at the top of the pay scale end up living much farther away from their jobs in the city, often leaving those with the fewest resources with the longest commutes. Finding a place to live with access to a lot of jobs within a 30-minute, carless commute is helpful to a broad range of workers. Opportunity Score joins Redfin's existing arsenal of tools, including Walk Score, Bike Score and Transit Score, which give people a sense of what it's like to live in a particular neighborhood. When searching for a home, the price of a house or the cost of rent is only part of the equation; access to jobs, high-quality education and walkability are also important factors. "Where you live can have enormous implications for your family's economic stability and upward mobility," said Redfin chief economist Nela Richardson (News - Alert). "A family may be able to find an affordable home to buy or rent, but if it's far from quality jobs, highly-rated schools and other amenities, it could hinder the family's chances to get ahead." "The bottom line is that everyone deserves opportunity," said Eric Scharnhorst, livability analyst for Redfin who led the development of Opportunity Score. "Our mission at Redfin is to make information about employment, home prices, transit access and other community characteristics easily available to help people make important decisions that can impact their families' long-term economic futures." Opportunity Score Built with Open Government Data Opportunity Score is Redfin's contribution to the Opportunity Project, a Whte House initiative encouraging technologists to use open government data to develop tools that can improve economic mobility for all Americans. The Redfin Opportunity Score incorporates employment data from the U.S. Department of Commerce, transit network data from Walk Score and housing data from Redfin. "Redfin was thrilled to be a part of the Opportunity Project, the results of which show what can be achieved when technologists, data scientists, policymakers and community leaders come together to address America's most difficult challenges," Richardson said. Urban Areas with the Best Job Accessibility As part of the Opportunity Score announcement, Redfin released a ranking of the country's most populous urban areas according to their Opportunity Score ratings. San Jose, California is the most accessible city for workers without a car, followed by Milwaukee and Albuquerque. The full city ranking, more information about the Redfin Opportunity Score, plus local maps and data, can be found at the following link: www.redfin.com/blog/introducing-opportunity-score Connect with Redfin
Facebook About Redfin Redfin (www.redfin.com) is the next-generation real estate brokerage, combining its own full-service agents with modern technology to redefine real estate in the customer's favor. Founded by software engineers, Redfin has the country's #1 brokerage website and offers a host of online tools to consumers, including the most accurate home-value estimate online, the Redfin Estimate. Homebuyers and sellers enjoy a full-service, technology-powered experience from Redfin real estate agents, while saving thousands in commission. Redfin serves more than 83 major metro areas across the U.S. The company has closed more than $31 billion in home sales, and saved customers more than $335 million in fees, and counting. For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, subscribe here.
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