303.320.1556 info@rmcherrycreek.com

Is it better to buy a home near Trader Joe’s or Whole Foods? Study tells all

by | Nov 2, 2015 | Blog, Buying a Home, Where To Live In Denver

Some people prefer the health-conscious offerings of Whole Foods, others the unique products and low prices of Trader Joe’s. But for homeowners worried about property values, there’s no debate as to which is better: Trader Joe’s wins hands down.

Day 181/365 by pheaber, on Flickr
Creative Commons Creative Commons Attribution-Share Alike 2.0 Generic License   by  pheaber 

That’s according to a recent study by RealtyTrac, which compared home values, appreciation and property taxes of those living near either a Trader Joe’s or a Whole Foods.

RealtyTrac examined data for 1.7 million homes, condos and co-ops in 188 zip codes with at least one Whole Foods store (and no Trader Joe’s stores) and 2.3 million homes, condos and co-ops in 242 zip codes with at least one Trader Joe’s store (and no Whole Foods stores). It then compared current home values to home values at the time the home was last purchased.

Those living near Trader Joe’s saw a much more significant increase in the value of their property.

Among the study’s findings:

  • Homeowners living near Trader Joe’s saw an average 40% increase in home values since they purchased, vs. 34% for those near a Whole Foods. (The average appreciation for all zip codes nationwide was also 34%).
  • Homes near a Trader Joe’s had a higher sticker price on average: $592,339 vs. $561,840 for those near a Whole Foods. (The average value of homes nationwide was $262,068.)
  • Those near a Trader Joe’s paid more property taxes: $8,536 vs. $5,382 for those near a Whole Foods. (The average property tax nationwide was $3,239.)

Living near a Trader Joe’s is apparently not only good for the food-lover in all of us, but it’s also great for the financial portfolio. But that doesn’t mean it’s the only game in town. For those who appreciate their morning coffee more than Trader Joe’s wines, there’s one enticing option: A previous study also showed significant appreciation for homes located near a Starbucks.

Browse the newest Denver real estate listings below or click here to create your own search.


[widgets_on_pages]

Curious about Denver real estate?

Have questions about the Denver market?

Categories