Photo: Mike Mozart/Flickr
Speciality grocery stores are attractive neighborhood amenities. But US homeowners in close proximity to a Trader Joe’s saw their homes appreciate the most compared to other grocers over a five year period, according to a new report by ATTOM Data Solutions, curator of the nation’s largest multi-sourced property database.
Nationally, five-year average price appreciation for all ZIP codes with a Trader’s Joes, Whole Foods or Aldi is 54 percent. For its analysis, ATTOM examined 5-year home price appreciation from 2017 versus 2012, current home values, as well as rental data from the US Department of Housing and Urban Development (HUD). Store locations were obtained from the USDA.
Homeowners with proximity to Trader Joe’s saw an average 5-year home appreciation of 67 percent. Their homes had an average value of $595,000 — the highest average among the three chains.
Meantime, living near a Whole Foods increased home values 52 percent over 5 years with homes averaging $531,000 in 2017. Home values rose 51 percent and had an average value of $212,000 near an Aldis.
But could Amazon’s purchase of Whole Foods for a staggering $13.4 billion earlier this year have a greater impact on home values located near the popular grocery chain?
“Homes near Whole Foods have seen home price appreciation more closely on par with those near Trader Joe’s, possibly thanks to the Amazon acquisition of the high-end grocery chain,” ATTOM says.
Homeowners near a Trader Joe’s owned an average of 36 percent equity ($232,000) in their homes, compared to 31 percent ($188,000) and 18 percent ($46,000) equity for Whole Foods and Aldi homeowners, respectively.
The national average equity for all ZIP codes with these stores is 24 percent.
Click here to read the entire report.