Trader Joe's vs. Whole Foods: Study Says One Gives You Better Home Values

We want a Trader Joe’s!

We want a Whole Foods!

In recent years the fight for these stores offering healthy, natural foods has developed huge followings, and everyone is loyal to a specific brand.

But according to a new study by RealtyTrac, one of these stores opening in your town may raise your home value.

The study showed homeowners near a Trader Joe’s have seen an average of 40-percent increase in home value since purchasing their home, while residents in towns with a Whole Foods have seen a 34-percent increase, which was the average for all ZIP codes nationwide.

Morris County is home to one Trader Joe’s store, located on Columbia Turnpike in Florham Park. There are two Whole Foods Markets in Morris County, on Washington Street in Morristown and Main Street in Madison. The Morristown location opened in April of this year.

The average home in a Trader Joe’s ZIP code, according to the study, was $592,339, a five-percent jump from a Whole Foods ZIP code, where home values were $561,840. The average home price across the country was $262,068.

But there was one positive for Whole Foods neighbors over Trader Joe’s: property taxes. According to the report, property taxes were an average of $8,536 in Trader Joe’s towns, versus $5,382 in Whole Foods’ towns.

See the full report here.