Live near a Trader Joe’s or Whole Foods? Along with good groceries nearby, expect a bump in your home's value.
According to a study from RealtyTrac, homeowners near a Trader Joe’s have seen a 40 percent increase in home value since purchase. Homes near the niche supermarket chain have an average home value of $592,339.
Those numbers fare a bit better than homes near a Whole Foods Market, which have a 34 percent appreciation value, according to the report. Whole Foods homes have a home valued at $561,840 on average.
The caveat for those near a Trader Joe’s? Higher property taxes, as those homes pay $8,536. That's nearly 60 percent higher than Whole Foods homes, which pay an average of $5,382.
RealtyTrac, a real estate website and listings service, looked at home values and property taxes for 1.7 million homes with at least one Whole Foods store and 2.3 million homes with at least one Trader Joe’s store.