Communities Where Home Values Plummeted After Data Centers Arrived

The era of artificial intelligence has ushered in a data center construction boom. Effectively a warehouse for servers and network equipment, data centers are the physical infrastructure that powers cyberspace – and in the AI development race, big tech’s appetite for new data centers appears virtually limitless. 

Currently, there are more than 2,000 active data centers in the United States, and according to the industry publication Aterio, another 807 are under construction, and plans for nearly 4,000 more have been announced. Between Amazon, Google, Meta, and MIcrosoft, combined data center spending in 2026 and 2027 is forecast to hit $1.5 trillion. But while Silicon Valley’s enthusiasm shows no signs of slowing, many of the communities playing host to new data centers are suffering. 

Data centers are resource intensive facilities that can consume as much electricity as hundreds of thousands homes – and their presence can strain local power grids and drive up household utility bills. While many data centers run on their own off-grid power plants, these facilities are often fossil fuel-fired, emitting greenhouse gasses that reduce local air quality and jeopardize public health. Many of these facilities also require millions of gallons of water each day, occupy large swaths of land, and are disruptively noisy. 

Perhaps not surprisingly, the presence of a major data center can meaningfully reduce overall quality of life in a given community. And in many places where new data centers have sprouted up in recent years, property values have tumbled. 

Using data from Realtor.com, Climate Crisis 247 identified the places where home values plummeted after the arrival of new data centers. We ranked counties on the relative change in median home list price between the approximate time a new data center came online and July 2026, the most recent month of available data. If the new data center began operations in 2026, the median list price for January 2026 was used, and for previous years, calculations were made using the peak monthly median list price. Only communities that have seen new, major data centers arrive in the AI era – 2023 or later – were considered. All supplemental data on data centers is from Cleanview, an industry tracking company.

It is important to note that the presence of new data centers is only one of many factors that can impact home values, and that declining list prices in these places are not necessarily linked to the presence of new data centers. 

9. San Antonio III – VII Data Center in Bexar County, TX

• Year data center operations began: 2025
• Local median home list price change; mid-2025 to July 2026: -2.9% (-$8,696 )
• Local median list price: $294,249 in July 2026, $302,945 in mid-2025
• Data center size and capacity: 280 megawatts, 1,500,000 sq. ft. 
• Data center developer: Stream Data Centers

8. Las Vegas Campus – Phase 1 Data Center in Clark County, NV

• Year data center operations began: 2025
• Local median home list price change; mid-2025 to July 2026: -3.1% (-$15,099 )
• Local median list price: $469,900 in July 2026, $484,999 in mid-2025
• Data center size and capacity: 100 megawatts, 246,328 sq. ft. 
• Data center developer: Novva

7. Microsoft Fairwater Atlanta – Building 4 Data Center in Fayette County, GA

• Year data center operations began: 2026
• Local median home list price change; early 2026 to July 2026: -4.0% (-$23,950 )
• Local median list price: $575,000 in July 2026, $598,950 in early 2026
• Data center size and capacity: 268 megawatts, 680,016 sq. ft. 
• Data center developer: QTS

6. Vantage CA3 Data Center in Santa Clara County, CA

• Year data center operations began: 2025
• Local median home list price change; mid-2025 to July 2026: -6.6% (-$99,250 )
• Local median list price: $1,397,250 in July 2026, $1,496,500 in mid-2025
• Data center size and capacity: 83 megawatts, 486,000 sq. ft. 
• Data center developer: Vantage Data Centers

5. Omaha – Buildings 1-3 Data Centers in Douglas County, NE

• Year data center operations began: 2024
• Local median home list price change; mid-2024 to July 2026: -9.0% (-$37,500 )
• Local median list price: $377,500 in July 2026, $415,000 in mid-2024
• Data center size and capacity: 261 megawatts, 917,453 sq. ft. 
• Data center developer: Google

4. Columbus – Buildings 1-4 Data Centers in Franklin County, OH

• Year data center operations began: 2024
• Local median home list price change; mid-2024 to July 2026: -9.6% (-$34,375 )
• Local median list price: $324,950 in July 2026, $359,325 in mid-2024
• Data center size and capacity: 400 megawatts, 1,252,743 sq. ft. 
• Data center developer: Google

3. Colossus 1 and 2 Data Centers in Shelby County, TN

• Year data center operations began: 2026
• Local median home list price change; early 2025 to July 2026: -12.6% (-$36,200 )
• Local median list price: $251,250 in July 2026, $287,450 in early 2025
• Data center size and capacity: 1,862 megawatts, 1,785,000 sq. ft. 
• Data center developer: xAI

2. Phoenix I-VII Data Center in Maricopa County, AZ

• Year data center operations began: 2024
• Local median home list price change; mid-2024 to July 2026: -14.2% (-$82,495 )
• Local median list price: $500,000 in July 2026, $582,495 in mid-2024
• Data center size and capacity: 280 megawatts, 418,200 sq. ft. 
• Data center developer: Stream Data Centers

1. AWS Lewis & Clark Dr Buildings 1-4 Data Centers in Morrow County, OR

• Year data center operations began: 2024
• Local median home list price change; early 2024 to July 2026: -24.0% (-$107,500 )
• Local median list price: $339,900 in July 2026, $447,400 in early 2024
• Data center size and capacity: 300 megawatts, 858,172 sq. ft. 
• Data center developer: Amazon