If you're looking for a sure way to see your home's value rise over the years, you could do worse than buying a property that's located next to a Trader Joe's or Whole Foods store, according to a new study by RealtyTrac.
The U.S. housing market analysis firm conducted a study of U.S. ZIP codes, and found that homes near Trader's Joe's saw better home value appreciation over the years, although such properties also have to pay higher property taxes on average. For its analysis, RealtyTrac looked at home values, property taxes and appreciation in U.S. ZIP codes with a Trader Joe's or Whole Foods to find out which offers the best combination of “food and shelter”.
According to RealtyTrac, homeowners located closes to a Trader Joe's store saw their property's value increase by an average of 40 percent since the time they purchased it. Those living near a Whole Foods store also saw considerable appreciation of 34 percent.
Altogether, the average price of a home near Trader Joe's is $592,339, about five percent more than the average price of a home near Whole Foods, $561,840. However, those living near Whole Foods probably make up for that deficit over the years, because their average property tax amounts to $5,382 a year, compared to the $8,536 a year homeowners near Trader Joe's have to pay.