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While we do not have either of these two stores in Bozeman, the effect is real. I see this as a direct comparison to living close to Bozeman’s vibrant Main Street and all the fabulous shops, restaurants, eateries and events that the area offers.
Living near these 2 stores boosts a home’s value – Whole Foods and Trader Joe’s aren’t just good for groceries
by Marian McPherson
Staff Writer
Jun 19, 2017
Homes near Whole Foods and Trader Joe’s appreciate 140 percent and 148 percent, respectively — nearly double the rate of the median U.S. home.
Organic food does your body good, but according to Zillow, it’ll do your home some good as well. As of 2016, 2.8 million homes are located near one of 375 Whole Foods locations or 451 Trader Joe’s locations, and those homes have appreciated at double the rate of homes in other areas.
From 1997 to 2014, the median U.S. home originally worth $103,000 had appreciated 71 percent to $177,000. Meanwhile, a median home near Whole Foods originally worth $157,000 appreciated a whopping 140 percent to $376,000; and a median home near Trader Joe’s appreciated 148 percent to $407,000 during the same time.
Although this trend could be credited to the fact that these retailers usually open their stores in high income areas, Zillow researchers showed that’s not necessarily the case.
They found that before a Whole Foods or Trader Joe’s opened, homes appreciated at the same pace of comparable homes across the city. After the store opened, homes in close proximity began appreciating at a faster rate.
“Whole Foods and Trader Joe’s are not simply piggybacking off already hot neighborhoods,” wrote Zillow data analyst Jamie Anderson of the study.
“Rather, it appears both chains are either incredibly smart about finding neighborhoods on the verge of gentrifying, or the opening of either location positively impacts home values.”