ALDI, Trader Joe’s may boost property values
Can grocery stores really help raise property values within the neighborhoods in which they are located?
According to realtor.com, some of the greatest home appreciation is occurring near Batavia, Ill.-based ALDI store locations, with property values having jumped an average of 42% from 2014 to 2019.
According to a recent report from real estate information firm ATTOM Data Solutions, the store was measured against popular Monrovia, Cali.-based Trader Joe's, where food prices are a hair higher and home appreciation rose 33%, and the most expensive store of the bunch, Austin, Texas-based Whole Foods Market, where appreciation went up 31% over the same five-year period.
"ALDIs tend to target up-and-coming neighborhoods, which are great for investors and buyers looking to see their home prices go up in the long run," says realtor.com Chief Economist Danielle Hale. "Whole Foods and Trader Joe's tend to be located in areas with already higher home prices, so there's less room for them to go up."
To read the realtor.com article, click here.