When you’re thinking about where to buy a new home, proximity to work, schools, and lifestyle probably come to mind. But you might also want to consider the nearest grocery stores. A new study shows homes values are up on houses located near Trader Joe’s and Whole Foods.
RealyTrac looked at home values, appreciation and property taxes on homes within the same U.S. zip codes as these two popular grocery chains. The results show homeowners near Trader Joe’s have experienced an average of a 40% increase in home value but also pay higher property taxes.
Whole Foods is not far behind with a 34% appreciation for homeowners. However, average appreciation for all zip codes nationwide is also 34 percent.
Homes near a Trader Joe’s also have a higher value on average: $592,339, 5 percent more than the $561,840 average value for homes near a Whole Foods.