Why does being close to a Trader Joers, Aldi or Whole Foods drive up house value???

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BeachPerson
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Why does being close to a Trader Joers, Aldi or Whole Foods drive up house value???

Post by BeachPerson »

Trader Joes, Aldi and Whole Foods
Homes located near a Trader Joe’s average a home seller ROI of 51%, and have added equity, owning an average 37% in their homes, or $247,445.
Where I live, I go to Wegman's for just about all of my shopping. Great prices on organic foods and gluten free breads. I find no need to go to Trader Joes, Aldi and Whole Foods. What is so special about Trader Joes, Aldi, and Whole Foods?
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onourway
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Re: Why does being close to a Trader Joers, Aldi or Whole Foods drive up house value???

Post by onourway »

Most of the country does not have a Wegmans. We do, and we still shop at TJ’s. Different selection.
jebmke
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Re: Why does being close to a Trader Joers, Aldi or Whole Foods drive up house value???

Post by jebmke »

Maybe it is the other way around. TJs, Aldi and WF locate their stores in geographies that tend to have rising asset values because that is where their customer base lives.
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Silly Wabbit
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Re: Why does being close to a Trader Joers, Aldi or Whole Foods drive up house value???

Post by Silly Wabbit »

Trader joe's and whole foods select locations carefully. Rather than being the cause of growth, perhaps they're just that great at selecting affluent locations where people want to live?
7eight9
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Re: Why does being close to a Trader Joers, Aldi or Whole Foods drive up house value???

Post by 7eight9 »

I never heard of Wegmans. Apparently it is a small regional chain so going there isn't an option for most of the country.

Wegmans is a regional supermarket chain with 103 stores: 47 in New York, 18 in Pennsylvania, 9 in New Jersey, 12 in Virginia, 8 in Maryland, 6 in Massachusetts, and 1 in North Carolina.
https://www.wegmans.com/about-us/company-overview/
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hicabob
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Re: Why does being close to a Trader Joers, Aldi or Whole Foods drive up house value???

Post by hicabob »

Silly Wabbit wrote: Sat Oct 17, 2020 11:43 am Trader joe's and whole foods select locations carefully. Rather than being the cause of growth, perhaps they're just that great at selecting affluent locations where people want to live?
Exactly - whole foods vs walmart locations in the SF Bay Area show this dramatically
https://twitter.com/JarrettBarrios/stat ... 64/photo/1
muddgirl
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Re: Why does being close to a Trader Joers, Aldi or Whole Foods drive up house value???

Post by muddgirl »

We live near a Target and guess what is opening right next door to it? Yep, a Whole Foods.

There is a whole industry devoted to planning retail locations, bank branch locations, etc. It is a branch of geography/GIS. So if your kid wants to get a geography degree don't laugh!
TIAX
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Re: Why does being close to a Trader Joers, Aldi or Whole Foods drive up house value???

Post by TIAX »

And the same is true of Ferrari dealerships. As someone stated above, they open their stores in neighborhoods where their customers live.
TravelforFun
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Re: Why does being close to a Trader Joers, Aldi or Whole Foods drive up house value???

Post by TravelforFun »

Did anyone mention Starbucks?

TravelforFun
LittleMaggieMae
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Re: Why does being close to a Trader Joers, Aldi or Whole Foods drive up house value???

Post by LittleMaggieMae »

TJ's, Aldi, and Whole Foods tend to be smaller foot print stores and I think that would mean they are located in more "urban" or "denser" population areas. People can drive or walk or take public transportation to these stores. I also mostly see people doing their "weekly" or twice a week shopping at these stores- versus stocking up (for a month or more - think warehouse stores). I think many urban/densely populated areas tend to have higher house values overall. I think trendy urban/densely populated areas also tend to have higher income households (that would shop at the upscale TJs and Whole Foods) - because people want to live in a "walk able" neighborhood with parks and restaurants and stores close by.

I like Aldi and TJs (whole foods is too far away takes me 15 -20 minutes to drive the 3 miles). I can walk to Aldi (but don't because I have to traverse 2 main artery streets and it can be challenging on foot or on bike. There are two TJ's on paths I take to friend's or other outings so I sometimes shop there too.
WS1
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Re: Why does being close to a Trader Joers, Aldi or Whole Foods drive up house value???

Post by WS1 »

muddgirl wrote: Sat Oct 17, 2020 11:53 am We live near a Target and guess what is opening right next door to it? Yep, a Whole Foods.

There is a whole industry devoted to planning retail locations, bank branch locations, etc. It is a branch of geography/GIS. So if your kid wants to get a geography degree don't laugh!
Bachelor in Geography here. One of my party tricks is a moderately drunken rant about all the awesome things taught by geography departments/research done by those people.
Jerry476
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Re: Why does being close to a Trader Joers, Aldi or Whole Foods drive up house value???

Post by Jerry476 »

Ever notice how TJ won’t open a new store unless they can guarantee that the parking will be horrible?
startwithtruth
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Re: Why does being close to a Trader Joers, Aldi or Whole Foods drive up house value???

Post by startwithtruth »

Jerry476 wrote: Sat Oct 17, 2020 1:14 pm Ever notice how TJ won’t open a new store unless they can guarantee that the parking will be horrible?
So true. My local TJ's moved 2 miles further away; they claimed it was because of parking issues, but the parking at the new location is almost as bad. (I think the real reason for the move was to be in a more affluent zip code).
mnnice
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Re: Why does being close to a Trader Joers, Aldi or Whole Foods drive up house value???

Post by mnnice »

jebmke wrote: Sat Oct 17, 2020 11:41 am Maybe it is the other way around. TJs, Aldi and WF locate their stores in geographies that tend to have rising asset values because that is where their customer base lives.
I know that Whole Foods selects locations based (in part) on density of college graduates in the immediate area.
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Re: Why does being close to a Trader Joers, Aldi or Whole Foods drive up house value???

Post by Flyer24 »

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