Will a new Starbucks nearby increase the value of your home?
Posted by Mariana Folgado
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Does the value of your home depend on how close you live to a Starbucks? Believe it or not, research shows there is a "Starbucks effect" on property values. A study of property values between 1997 and 2014 looked at homes within walking distance – one quarter of a mile – of a Starbucks and found they appreciated at a rate of 96. That compares to the national appreciation average of 65 percent for the same period.
But not all coffee places are created equal. The study by Zillow also found that homes near Dunkin' Donuts appreciated just 80 percent during the same period. Another study by RealtyTrac shows that a home sharing a zip code with a Trader Joe's location grew 40 percent since it was purchased, versus the national average of 34 percent.
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Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the HRIS.
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