Whether it’s the sense of community, the sign of a walk-able neighborhood, or the sign of an up-and-coming part of town, it’s smart to consider how close a home is to a Starbucks location before you consider buying it.
The folks at Zillow.com have crunched the numbers and “between 1997 and 2014, homes within a quarter-mile of a Starbucks increased in value by 96 percent, on average, compared with 65 percent for all U.S. homes.”
Now, before you jump in and say, “That statistic is ridiculous because Starbucks locations are seemingly everywhere,” consider that homes within the same distance of a Dunkin’ Donuts location only appreciated by 80%. BOOM!
While you obviously want to consider other factors when buying a home like crime rate, schools, and proximity to work, it’s smart to also throw into the mix how close the home is to a S’bucks. After all, the brain trust at Starbucks corporate spends a lot of money finding and analyzing up-and-coming neighborhoods, so it’s smart to piggyback on their research when picking a home that has the most potential for appreciation.
In case you’re curious (and who isn’t), according to Zillow, here are the 10 metro areas most affected:
- Boston, MA, ironically, deep in the heart of Dunkin’ Donuts territory.
- Philadelphia, PA
- Washington, DC
- Chicago, IL, Starbucks’ first market outside the Northwest.
- Baltimore, MD.
- Portland, OR, where the favorite drink is an eggnog latte.
- Miami-Fort Lauderdale, FL
- Atlanta, GA
- Seattle, WA, Starbucks’ (and Zillow’s) hometown.
- Riverside, CA
Ask the Reader: Would you start using the “Starbucks Factor” when looking for a home to purchase?
Markets Where Starbucks Boosts Home Values the Most | Zillow.com
Photo by m01229.