18 | EXPRESS | 11.25.2015 | WEDNESDAY
condoliving
Study: Home values rise close to Trader Joe’s or Whole Foods INVESTMENTS If you’re looking to buy a home that will give you the most value for your money when it comes to appreciation, the presence of high-achieving schools and a Metro station within walking distance may not be the only factors to consider. A RealtyTrac study released in August suggests you may want
to add this quirky item to your list: whether a Trader Joe’s or Whole Foods is nearby. Rea lty T rac a na lyzed 1.7 million home values, appreciation and property taxes in ZIP codes around the country with a Whole Foods or a Trader Joe’s (but not both in the same ZIP code) to determine where home values appreciate more quickly. The result: Homeowners near a Trader Joe’s have experienced better value appreciation since their purchase. However, those
JULIE JACOBSON (AP)
There’s growth near groceries Homes near a Whole Foods saw a 34 percent rise in value, on average.
homeowners have also seen an increase in their property taxes. While the average appreciation for all ZIP codes nationwide is 34 percent, homeowners near a Trader Joe’s have seen an
average appreciation of 40 percent. Homeowners near a Whole Foods saw an average increase in home value of 34 percent. The average value of a home near a Trader Joe’s is $592,339,
5 percent higher than the $561,840 average value for homes near a Whole Foods. But having either store in your ZIP code is clearly an indication that you live in an affluent area: The average value of homes in all ZIP codes across the nation is $262,068. The property tax bill that c omes w ith your home is higher if you live near a Trader Joe’s, averaging $8,536 per year, 59 percent more than the average bill of $5,382 if you live near a Whole Foods. Nationwide, the average property tax bill is $3,239. So while you’re picking up your box of Trader Joe’s Mini Mint Ice Cream Mouthfuls, you may want to check out a house or two in the same neighborhood. MICHELE LERNER (THE WASHINGTON POST)
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