A new study pitted two rival grocery store chains – Whole Foods and Trader Joe’s – against one another to find out which grocery store increases the value of nearby homes the most.
Read more: Does Starbucks Brew Higher Home Values?
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’s good news for home owners living near a Trader Joe’s, according to the study. Home owners near a Trader Joe’s have seen an average 40 percent increase in home values since they purchased compared to home owners living near Whole Foods who have seen a 34 percent appreciation.
Homes near a Trader Joe’s tend to have a higher value on average at $592,339 – 5 percent greater than the $561,840 average value for 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 Joe’s pay an average of $8,536 in property taxes each year, 59 percent more than the $5,382 average 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, according to the analysis.
Source: “Better to Own Near Trader Joe’s or Whole Foods?” RealtyTrac (Aug. 11, 2015)