Study: It Pays to Live Near Specialty Grocery Stores
August 5, 2019
Certain grocery stores may help lift nearby home values, particularly if those stores happen to be Trader Joe’s, Whole Foods, or Aldi, suggests a new analysis from ATTOM Data Solutions, a real estate data firm. Home sellers who live near a Trader Joe’s earned 51% more at resale than the average seller, according to the study. Homes near a Whole Foods or an Aldi sold for 41% and 34% more, respectively.
ATTOM researchers analyzed average home values and price appreciation from 2014 to 2019, as well as current average home equity, home seller profits, and home flipping rates of more than 1,800 ZIP codes nationwide with at least one of each grocery store.
Homes near the specialty grocery store Trader Joe’s have added equity at the fastest clip.
- Homeowners near a Trader Joe’s have an average 37% equity in their homes ($247,445).
- Homeowners near a Whole Foods have an average of 31% equity ($187,035).
- Homeowners near an Aldi have an average of 20% equity ($53,650).
Updated: December 12, 2019