Originally Posted by Zeus

Graplr -

I at one point researched the effect of promixity of federal prisons on property value and what I found suprised me.

Some of the most expensive real estate in the city was beside the prison. Literally a stone's throw away.

Several studies on the subject found no real correlation between the proximity of the prison and home values. It is much more based on the actual neighbourhood and crime, etc., independent of the prison's geographic location. In other words, if a good neighbourhood happens to be adjacent to a prison, it's still a good neighbourhood. If it is a ghetto, it's a ghetto, etc.

As far as crime rates - again, it's more based on the city as a whole and the neighbourhoods - not due to prison location, etc. When you think about it, a prison has a large security force working within and around it. Beside the city's police force, you have correctional officers, security officers, prison staff, associated doctors and service providers, etc. In other words, plenty of people who could potentially recognize a convict. If convicts were to escape (not as common today with the advances in security technology), the prisoner isn't going to hang around the prison. They will try to leave the city asap. Perhaps some mentally ill prisoners might wander around, but in reality you already have such specimens wandering free in any given city - prison or not.

So I would not let the proximity of a prison influence your decision to purchase a home. I would check the neighbourhood itself - if the prices per size of the home/lot match other similar neighbourhoods that are farther from the prison, there is your answer right there.

A good idea before you purchase would be to chat up some potential neighbours who live there already, preferably some old-timers. Get their perspective.

Good luck!