Illustration courtesy: Attom
Location, location, location. This real estate maxim now seems to apply to residences located near grocery stores, according to new data published Tuesday by Based in Irvine, CA atom Data Solutions, property and real estate data provider.
The Grocery Store Wars Company 2022 Analysis shows how living near a Trader Joe’s, Whole Foods, or Aldi can increase a home’s value – as a homebuyer based on home price appreciation home and home equity, or as an investor looking for the best house flipping returns and home seller return on investment.
“Smart home buyers may want to think about where to shop when buying a new home,” said Rick Sharga, EVP of market intelligence at Attom, in a statement. “It turns out that being close to grocery stores isn’t just a matter of convenience for homeowners, but can also have a significant impact on equity and home value. And that impact can vary quite widely depending on which grocery store is in the neighborhood.”
While homes near a Trader Joe’s achieved a five-year average home price appreciation of 49%, homes near a Whole Foods saw an average appreciation of 45% and Aldi had a 58% advantage. .
According to the latest findings for homeowners, Trader Joe’s is leading the pack, as the average home value near Trader Joe’s is $987,923compared to $891,416 near Whole Foods. The average home value near the Aldi discount grocery store is $321,116reports Atom.
From the perspective of investors, properties near an Aldi are the solid choice, with an average gross return on investment of 54%, compared to properties near a Whole Foods, which had an average gross return on investment of 28% and Trader Joe’s at 25%.
For analysis, Attom looked at current average home values, five-year home price appreciation for 2022 year-to-date versus 2017 year-to-date, average home equity current home sales, home seller profits, and home flip rates in US ZIP Codes. with at least one Whole Foods store, one Trader Joe’s store and one Aldi store.