As if the inherent privilege of living near a Trader Joe’s, with all its budget-friendly deliciousness, wasn’t reward enough, it seems there are some long term financial incentives to being TJ’s-adjacent. A recent study looked at whether living in proximity to a Trader Joe’s, Whole Foods, or ALDI had an effect on home value and appreciation, and TJ’s came out top with Whole Foods following close behind.
The Grocery Store Battle performed in August, 2019 by ATTOM Data Solutions showed that not only were homes near a Trader Joe’s valued at more than those in the vicinity of Whole Foods or ALDI but they proved to have a better return on investment (ROI) over a five year period.
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The Irvine, California based data solutions company looked at current average home values from YTD 2019 versus YTD 2014 and over that period homes that shared a zip code with Trader Joe’s increased in value by 51 percent. Compare that to homes near a Whole Foods which shot up just 41 percent, and homes near an ALDI which saw only a 34 percent spike.
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Overall, 2019 home values near Trader Joe’s were also highest, at $608,305 on average, while the average home sharing a zip code with a Whole Foods was valued at $521,142 and those near ALDI just $222,809.
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The reason for this? No way to say for sure, but it could speak to Trader Joe’s crafty expansion strategy, moving into neighborhoods where the population and demand for housing were expected to increase, thus getting better bang for their own buck over the course of those five years. Or—in a classic chicken and egg conundrum—could be that Trader Joe’s itself drove the housing market boom as home buyers and investors jockeyed to move near a Trader Joe’s just as shoppers jockey for that last bottle of Everything Bagel Seasoning.
One thing is for sure though; there’s never been a better time to be shacked up near a TJ’s.
Header image courtesy of Trader Joe's