Living near Trader Joe’s good for home value?

SAN FRANCISCO (KRON) — If you’re in the market to buy a home, you many want to consider finding property near a Trader Joe’s grocery store.

A new study by RealtyTrac found homes located near Trader Joe’s saw a 40 percent average increase in property value.

Consumer surveys rate Trader Joe’s among the most popular grocery chains in the country.

The study looked at data of 1.7 million homes in 188 zip codes, and researchers found that homeowners who live in the same zip code as a Trader Joe’s have seen their property values increase 40 percent since they purchased the home.

The RealtyTrac study found living near a Whole Foods may also help bump up the value of your home. Those properties appreciated by 34 percent, which is the average value increase for all zip codes surveyed in the study.

But it should be noted, higher property value also means higher property taxes. Researchers say homeowners near Trader Joe’s pay an average of about $8,500 in property taxes, compared to $5,400 for homes near Whole Foods and an average of $3,239 nationwide.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s