Data Center Boom Triggers Homeowner Fears Over Skyrocketing Electric Costs

Real estate agents and their clients are worried data centers will drive up utility costs. But their impact on property values is less clear, the National Association of Realtors® found.About 61% of NAR members said their clients were concerned that data centers would raise energy costs, and 56% reported concerns about water usage, according to survey data released on Wednesday. As well, 43% feared environmental contamination and 32% feared the impact on the immediate landscape.However, opinions on the impact on home values were divided. About 25% of agents surveyed expected data centers to have a positive impact on residential values, while 22% perceived a negative impact.“There is no single data center effect. Instead, the story varies significantly depending on the local market,” said NAR Chief Economist Lawrence Yun. “The number of data centers alone does not tell us what will happen to home values, jobs, or utility costs.”The data tracks with recent Realtor.com research on data centers. The research found data centers are moving into increasingly rural areas. While they do affect property taxes, the impact on the average homeowner's tax burden is complicated. And while the sep...