Do dogs increase property values?

The New York Times earlier this year addressed the question — “Do ‘no dog’ policies affect apartment values?

One realtor said that because dog owners have fewer apartments to choose from, they may pay a premium for a building that will let them in. She estimated that pet-friendly apartments may be worth an additional 5-10% on the open market.

An analysis quoted in the same article by Miller Samuel seemed to disagree with at least part of that assessment, showing that 78% of coops and condos sold in the fourth quarter of 2014 allowed pets. So is there a premium the other way, for buyers who specifically don’t want to live around animals? No, no-pet sales consistently underperform the market average.