Study Reveals Trader Joe's in Your Town Could Increase Property Value
Sep 01, 2015 03:09PM ● Published by Kevin
CultureMap Dallas said that 34 percent is the same as what being near a Whole Foods will net you. The only downside, CultureMap asked? Property taxes near Trader Joe's also tend to be higher.
Trader Joe's first came to Fort Worth in 2012, and to Southlake in February. The closest Whole Foods to Southlake is in Colleyville.
"Whole Foods plans to open in the new Waterside development in the spring of 2016, and Fresh Market opened in June in the new Riverside district, following multiple openings in Dallas and Southlake..." CultureMap said.
For this analysis, RealtyTrac looked at home values and property taxes 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).
"We compared the average of current home values to the average of home values at the time the home was last purchased. Home value and property tax data are from RealtyTrac’s sales deed and tax assessor databases; grocery store locations are from the USDA (http://www.fns.usda.gov/snap/retailerlocator)."