A new report shows homeowners with a property located near a Trader Joe’s boast a higher value on average than houses sitting close to a Whole Foods. But a deeper look at the data shows the proximity to the trendy supermarket chains likely has no connection to the real estate’s value.
National data shows that homes situated near a Trader Joe’s, defined as those falling within the same ZIP code, have seen a 40 percent increase in value since they were purchased compared with a 34 percent increase for properties located near a Whole Foods, according to a RealtyTrac report.
The study also showed that homes in Trader Joe’s shadow had, on average, a 5 percent greater value than those near Whole Foods.
Breaking news and the stories that matter to your neighborhood.
For more business news, head to PBJ.com.