A new study pitted two rival grocery store chains-Whole Foods and Trader Joes-against one another to find out which store increases the value of nearby homes the most.
To determine if it’s better to buy near Whole Foods or Trader Joe’s. RealtyTrac looked at home values, appreciation, and property taxes across the country in zip codes with these grocery chains.
There is good news for home owners who bought near or recently had Trader Joe’s move into their neighborhood. Home owners near a Trader Joe’s have seen an average of 40% increase in home values since they purchased compared to a very respectable 34% appreciation for those whose neighbor is Whole Foods.
Homes near a Trader Joe’s tend to have a higher value on average of $592,339, 5% higher than the $561,840 average value of homes near Whole Foods. For comparison, the average value of homes nationwide is $260,068 across ALL zip codes nationwide.
In property taxes, home owners living near a Trader Joes’s pay an average of $8,536 in property taxes, 59% higher than the $5,382 for home owners living near a Whole Foods. That is also much higher than the national average for property taxes which is $3,239 across ALL zip codes.
Author:Jeff McGahey Phone: 720-309-2059 Dated: November 30th 2015 Views: 1,456 About Jeff: As a Colorado native, real estate broker since 2006, and real estate investor for over 15 years I ha...
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