Have you heard of the Starbucks effect? It was a concept explored in the New York Times “Zillow Talk” column that living near a Starbucks provoked higher home values (in certain areas), but now, there are two more store fronts dishing up legitimate proof of home value hikes.
“In the new paperback edition of ‘Zillow Talk: Rewriting the Rules of Real Estate,’ a bonus chapter reveals a similar phenomenon with specialty grocery stores. Between 1997 and 2014, homes near Trader Joe’s and Whole Foods were consistently worth more than the median U.S. home. By the end of 2014, homes within a mile of either store were worth more than twice as much as the median home in the rest of the country.”
Source: Zillow