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Houses near Trader Joe's gain value faster than those near Whole Foods

If you own a house near a Trader Joe's you'll also pay higher property taxes.

August 11, 2015 at 8:21PM
Trader Joe's in St. Louis Park.
Trader Joe's in St. Louis Park. (Star Tribune/The Minnesota Star Tribune)

Several months ago we told you that houses that were near a Starbuck's were far more likely to be worth more than those that weren't, according to a national survey of property records by Zillow.

RealtyTrac has its own analysis that looks at how proximity to a Whole Foods or Trader Joe's impacts home values. Here's what they found:

  • Homeowners near a Trader Joe's have seen an average 40 percent increase in home value since they purchased, compared to 34 percent appreciation for homeowners near a Whole Foods - the same appreciation for all zip codes nationwide.
    • Houses near a Trader Joe's also tend to have a higher value on average: $592,339, that's five percent more than the $561,840 average value for homes near a Whole Foods. The average value across all zip codes nationwide of homes was $262,068.
      • Homeowners near a Trader Joe's pay an average of $8,536 in property taxes each year, 59 percent more than the $5,382 average for homeowners near a Whole Foods. The average property tax across all zip codes nationwide was $3,239.
        (The Minnesota Star Tribune)
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        about the writer

        about the writer

        Jim Buchta

        Reporter

        Jim Buchta has covered real estate for the Star Tribune for several years. He also has covered energy, small business, consumer affairs and travel.

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