Zillow’s Home Analysis Proves Houses Within 1 Mile Of Trader Joe’s Are Worth More
According to a recent analysis by Zillow, if you live near a Whole Foods or Trader Joe’s, the value of your home could significantly go up in Tucson, AZ. And specifically, if you live within a mile of either store, your home could be worth more.
But why?
Zillow’s Chief Economist, Stan Humphries says, “Like Starbucks, the stores have become an amenity in their own right – a signal to the home-buying public that the neighborhood they’re located in is desirable, perhaps up-and-coming, and definitely improving.”
But could these homes increase in value because people that can afford to spend more money on organic groceries want to live closer to their favorite grocery store for convenience? Perhaps.
Zillow’s CEO, Spencer Rascoff, wrote a book, Zillow Talk, about the grocery store phenomenon. He states,
“It says something about the way people want to live – in the type of neighborhood favored by the generations buying homes now. Today’s homebuyers seek things in neighborhoods that weren’t even in real estate agents’ vocabularies a generation ago: walkability, community, new urbanism – and maybe we should add words like sustainable seafood and organic pears.”
Right now there are 4 Trader Joe’s in Tucson, AZ.
For the locations of Trader Joe’s in Tucson, AZ: CLICK HERE
