An analysis of real estate prices found homes near a Trader Joe's are worth more — and value is rising fast
There are so many features that attract homebuyers: renovated kitchens, curb appeal, school systems, proximity to $4 canned wine, avocado yogurt and cookie butter...
Yes, nearness to a Trader Joe's can actually increase your home's value to buyers, according to a new study.
Homeowners with property near a TJ's saw an average home price appreciation of 67% over the last five years, reports real estate research group ATTOM Data Solutions.
Those near a Whole Foods or Aldi saw a more modest 52% and 51%, respectively.
The study, which compared data from 1,275 zip codes nationwide, put the average value of a home near Trader Joe's at $595,288, nearly triple to the nationwide median value. The average value of a home near Whole Foods follows close behind at $531,103 with a home near Aldi at $211,855.
It's a bit of a chicken-or-the-egg question when it comes to whether or not TJ's is actually driving up home values. It's also quite possible the chain is just really good at spotting up-and-coming neighborhoods and planting its outposts accordingly. (Case in point: Not one, but two, TJ's have popped up at the intersection of several increasingly trendy Brooklyn neighborhoods.)
Either way, the news is something for aspiring homeowners to consider. So if you're about ready to buy and you hear a TJ's is coming to town, it might be time to make your move.
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