Of all the grocery stores homeowners could live near, those close to a Trader Joe’s tend to have a higher home value than owners near other stores.
Homes near a Trader Joe’s have an average value of $644,558, according to the study. Homeowners near the specialty grocery store chain also have earned an average of $255,066 in home equity over the last five years, compared to a $191,380 boost for owners living near a Whole Foods and $71,204 for owners living near an Aldi. The average values for homes near a Whole Foods or an Aldi are $532,224 and $250,850, respectively, according to the study.
Investors, however, may want to eye properties near an Aldi, which have averaged a 58% ROI for home flippers, according to ATTOM Data Solutions’ analysis. Properties near a Whole Foods or Trader Joe’s, by comparison, averages ROIs of 36% and 30%, respectively.
For Homebuyers
While homes near a Trader Joe’s realized an average 5-year home price appreciation of 35 percent, and homes near a Whole Foods saw an average appreciation of 33 percent, ALDI had a slight advantage at 41 percent.
However, not only does Trader Joe’s lead the pack for homebuyers in average home value at $644,558, but it also takes the lead in home equity with homeowners earning an average of 37 percent ($255,066) equity, compared to Whole Foods at 33 percent ($191,380) and ALDI at 26 percent ($71,204). The average value for homes near a Whole Foods is $532,224, and $250,850 for homes near an ALDI.
The average equity for all zip codes with these grocery stores nationwide is 29 percent.
For Investors
Properties near an ALDI are ripe for investors, with an average gross flipping ROI of 58 percent, compared to properties near a Whole Foods which had an average gross flipping ROI of 36 percent and Trader Joe’s at 30 percent.
Although, properties near an ALDI are seeing less of an average home seller ROI than properties near a Trader Joe’s or Whole Foods, investors are still gaining with an average home seller ROI of 41 percent. The average home seller ROI for properties near a Trader Joe’s is 51 percent, and 43 precent for properties near a Whole Foods.
The average home seller ROI for all zip codes with these grocery stores nationwide is 43 percent.
If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.
