Here's some welcome news for homeowners living near Trader Joe's: You're probably experiencing better home values.
That's according to a RealtyTrac report released Tuesday. The real estate information firm analyzed home values, appreciation and property taxes in ZIP codes that have either a Trader Joe's or Whole Foods location to find out which of the 2 chains is better for homeowners.
Higher appreciation and taxes
"What we found is that homeowners near a Trader Joe's have experienced better home value appreciation since their purchase," Jennifer von Pohlmann, RealtyTrac spokeswoman, says in a post on the company's website. These lucky owners also pay more in property taxes on average: 59% more.
The analysis also found:
- Home values have appreciated by 40% on average for homeowners living near Trader Joe's, compared with 34% for those near a Whole Foods.
- The average value for homes near Trader Joe's is $592,339, while homes near Whole Foods are worth $561,840 -- a 5% difference.
- The average home value across all ZIP codes analyzed is $262,068.
- The average property tax across all ZIPs is $3,239.
Check out this infographic that highlights RealtyTrac's findings.
Have you seen a bump in your home value because 1 of these 2 grocery chains has made its way into your community?