TODAY'S PAPER
Overcast 56° Good Morning
Overcast 56° Good Morning
Business

Living near a Trader Joe’s or Whole Foods increases home value, report says

Live near a Trader Joe's? A study from

Live near a Trader Joe's? A study from RealtyTrac found that home value increases for homeowners near a Trader Joe's or Whole Foods. These shoppers lineup on Oct. 18, 2013, for the grand opening of a Trader Joe's in Pinecrest, Fla. Photo Credit: Getty Images

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.

 

More news

Sorry to interrupt...

Your first 5 are free

Access to Newsday is free for Optimum customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE