How Does Living Near a Grocery Store Affect Home Values?By Claudia Larsen
Just as your homebuyers might consider the school system and local amenities in a town they’re thinking about moving to, you can tell them to add ‘proximity to the nearest grocery store’ as something that can increase their home’s value over time, a new report indicates.
ATTOM’s latest 2022 Grocery Store Wars Analysis shows grocery stores might increase a home’s value based on home-price appreciation and home equity, or also as an investor looking for the best home-flipping returns and home-seller ROI. The study looked at current average home values, 5-year home price appreciation for YTD 2022 vs. YTD 2017, current average home equity, home seller profits, and home flipping rates in U.S. zip codes with at least one Whole Foods store, one Trader Joe’s store and one ALDI store. Key highlights:
“Smart homebuyers might want to consider where they’ll do their grocery shopping when they’re shopping for a new home.” said Rick Sharga, executive vice president of market intelligence at ATTOM. “It turns out that being located near grocery stores isn’t only a matter of convenience for homeowners but can have a significant impact on equity and home values as well. And that impact can vary pretty widely depending on which grocery store is in the neighborhood.” For the full report, click here. Claudia Larsen is an associate editor for RISMedia. |
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