Benicia has an oil refinery — why are their property values higher than Vallejos?
Benicia real estate professionals explain Benicias higher property value this way: first, the refinery does have an impact on property values in Benecia. The closer a home is to the refinery, the lower its value and the longer it takes to sell. Benicia’s higher property values are in spite of the Valero refinery and because of several unique characteristics of the town. The Valero refinery is over the hill and to the East of Benicia, and not within view of the large majority of Benicias residents. Indeed, passing through Benicia you would not even know there is a refinery. Benicia is a much smaller town than Vallejo, with better schools and a charming, revitalized historic downtown that has retained its original character. And, unlike Vallejo, Benicia is not on a major highway like Vallejo’s I-80. Another major impact on home values is the fact that most Benicia homes come with a water view. Water views always increase the price of homes, and Benicia is no exception. While homes with a
