Survey finds some Americans would pay more for a house near a marijuana business | Illinois
(The Center Square) – A survey regarding cannabis and real estate shows some people are considering a move to a state where pot is legal.
According to Real Estate Witch, 60% of respondents feel cannabis legalization will impact real estate in some way, and more than half of Americans (52%) say they would consider buying a home next door to a recreational cannabis dispensary.
“Twenty-two percent of people are willing to pay above market rate on a house because it is located next to a cannabis related amenity,” said spokesperson Sam Huisache.
Illinois became the 11th state to legalize adult-use cannabis in 2020. Five states, including Missouri, have recreational cannabis on their ballots Nov. 8.
According to the survey, the average American doesn’t think legalization is the most pressing issue the country faces. Inflation ranked first, while LGBTQ rights is the only issue that ranked lower than cannabis legalization.
Only five states have chosen to make cannabis fully illegal with no medical exemption: Idaho, Wyoming, Kansas, South Carolina and North Carolina.
A poll from Monmouth University shows 68% of those asked support legalizing the possession of small amounts of marijuana for personal use.
In Illinois, marijuana has been a cash cow and has helped fill state coffers with sales taxes from legal sales. Cannabis products with a THC concentration higher than 35% come with a 25% sales tax. Municipalities and counties are able to levy additional local sales taxes.
Illinois adult-use cannabis sales in 2021 reached $1.3 billion, an increase of 106% over 2020.