- On average, homeowners who live near Target have higher home values ($307,286), pay more in property taxes ($7,001) and experience higher home appreciation rates (27 percent).
- On average, homeowners who live near Wal-Mart have lower home values ($178,249, pay less in property taxes ($3,146) and experience lower home appreciation rates (16 percent).
- The national average is $40,626 for home price gains, $215,921 for home values and $4,283 for property taxes.
Last year, RealtyTrac released a study on the differences in home appreciation for neighborhoods near natural food giants Whole Foods and Trader Joe’s.
The study concluded that homes near Trader Joe’s saw a 40 percent appreciation compared to 34 percent for homes near Whole Foods.
This year, RealtyTrac followed up with another report that compared home appreciation rates between big box retail rivals Target and Wal-Mart.
Red or blue?
According to the report, homeowners near Target experience a 27-percent increase in home appreciation, which amounts to an average price gain of $65,569. Meanwhile, homeowners near Wal-Mart only experience 16 percent increase in home appreciation, which amounts to an average price gain of $24,900.
[Tweet “Homeowners near @target gain a 27% home appreciation compared to only 16% for @walmart”]
Not only do homeowners near Target experience better home appreciation rates, their homes usually have a higher value as well. On average, homes near Target are valued at $307,286, which trumps the value of homes near Wal-Mart ($178,249) by 72 percent.
Lastly, homeowners near Target pay, on average, 123 percent more in property taxes ($7,001) compared to their counterparts who live near Wal-Mart ($3,146).
Homeowners near Wal-Mart are closer to the national average in terms of price gains ($40,626), home value ($215,921) and property taxes ($4,283).
[Tweet “Values and property taxes of homes near @walmart are closer to national averages.”]
Is this true in your market? Share your answer in the comments below!
