June 22, 2017
Living near Whole Foods and Trader Joe’s may not only do your body good, but also increase the value of your home.
This, according to Zillow, which indicates that homes near Whole Foods and Trader Joe’s appreciate 140% and 148%, respectively — nearly double the rate of the median U.S. home.
Last year, 2.8 million homes were located near one of 375 Whole Foods locations or 451 Trader Joe’s locations, and those homes have reportedly appreciated at double the rate of homes in other areas.
From 1997 to 2014, the median U.S. home originally worth $103,000 had appreciated 71% to $177,000. Meanwhile, a median home near Whole Foods originally worth $157,000 reportedly appreciated a whopping 140% to $376,000; and a median home near Trader Joe’s appreciated 148% to $407,000 during the same time.
“Whole Foods and Trader Joe’s are not simply piggybacking off already hot neighborhoods,” wrote Zillow data analyst Jamie Anderson of the study. “Rather, it appears both chains are either incredibly smart about finding neighborhoods on the verge of gentrifying, or the opening of either location positively impacts home values.”