Being within a mile of Whole Foods or Trader Joe's will make your house more valuable

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Homes Near Trader Joe's Or Whole Foods Stores Rise In Value Faster

A lot of factors can impact the value of a home.

Schools, parks, and even public transportation can all impact a neighborhood's average house price.

And according to analysis by Zillow, an online real estate marketplace, one of the increasingly important factors is the presence of a high-end grocery store.

"Zillow found that homes grow more rapidly in value if they are closer to a Trader Joe's or Whole Foods," the company said in a release.

"Between 1997 and 2014, homes near the two grocery chains were consistently worth more than the median U.S. home. By the end of 2014, homes within a mile of either store were worth more than twice as much as the median home in the rest of the country."

The analysis is included in the new edition of Zillow CEO Spencer Rascoff's book Zillow Talk. In the release, Zillow Group Chief Economist Stan Humphries offered an explanation for the phenomenon.

"Like a self-fulfilling prophecy, the stores may actually drive home prices," Humphries said. "Even if they open in neighborhoods where home prices have lagged those in the wider city, they start to outperform the city overall once the stores arrive."

For example, the analysis found that 2 years after a new Trader Joe's opened home values within one mile went up by 10 percentage points more than homes in the rest of the city.

"It says something about the way people want to live – in the type of neighborhood favored by the generations buying homes now," Rascoff said.

"Today's homebuyers seek things in neighborhoods that weren't even in real estate agents' vocabularies a generation ago: walkability, community, new urbanism – and maybe we should add words like sustainable seafood and organic pears."

See Trader Joe's stores around the country:

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Being within a mile of Whole Foods or Trader Joe's will make your house more valuable
Buffalo, NY - JULY 10, 2015 - Grocery chain, Trader Joe's, is instantly recognizable once inside. Quirky and witty signs are spread throughout the store, enticing customers, in Buffalo, NY. JULY 10, 2015. Melissa Renwick/Toronto Star (Melissa Renwick/Toronto Star via Getty Images)
Buffalo, NY - JULY 10, 2015 - Grocery chain, Trader Joe's, is instantly recognizable once inside. Quirky and witty signs are spread throughout the store, enticing customers, in Buffalo, NY. JULY 10, 2015. Melissa Renwick/Toronto Star (Melissa Renwick/Toronto Star via Getty Images)
Buffalo, NY - JULY 10, 2015 - Grocery chain, Trader Joe's, is instantly recognizable once inside. Quirky and witty signs are spread throughout the store, enticing customers, in Buffalo, NY. JULY 10, 2015. Melissa Renwick/Toronto Star (Melissa Renwick/Toronto Star via Getty Images)
Packaged avocados destined for Trader Joes stores are readied for transport at Mission Produce in Oxnard. Photo by ^^^/Los Angeles Times (Photo by Steve Osman/Los Angeles Times via Getty Images)
Buffalo, NY - JULY 10, 2015 - Grocery chain, Trader Joe's, is instantly recognizable once inside. Quirky and witty signs are spread throughout the store, enticing customers, in Buffalo, NY. JULY 10, 2015. Melissa Renwick/Toronto Star (Melissa Renwick/Toronto Star via Getty Images)
Buffalo, NY - JULY 10, 2015 - Grocery chain, Trader Joe's, is instantly recognizable once inside. Quirky and witty signs are spread throughout the store, enticing customers, in Buffalo, NY. JULY 10, 2015. Melissa Renwick/Toronto Star (Melissa Renwick/Toronto Star via Getty Images)
Buffalo, NY - JULY 10, 2015 - Grocery chain, Trader Joe's, is instantly recognizable once inside. Quirky and witty signs are spread throughout the store, enticing customers, in Buffalo, NY. JULY 10, 2015. Melissa Renwick/Toronto Star (Melissa Renwick/Toronto Star via Getty Images)
PINECREST, FL - OCTOBER 18: Shoppers enjoy the grand opening of a Trader Joe's on October 18, 2013 in Pinecrest, Florida. Trader Joe's opened its first store in South Florida where shoppers can now take advantage of the California grocery chains low-cost wines and unique items not found in other stores. About 80 percent of what they sell is under the Trader Joe's private label. (Photo by Joe Raedle/Getty Images)
DENVER, CO - FEBRUARY 14: Trader Joe's, located on Colorado Blvd. and East 8th Avenue in Denver, is ready for its grand opening, February, 14 2014. Two other Trader Joe's locations in Colorado will also open today. (Photo by RJ Sangosti/The Denver Post via Getty Images)
DENVER, CO - FEBRUARY 14: Trader Joe's, located on Colorado Blvd. and East 8th Avenue in Denver, is ready for its grand opening, February, 14 2014. Two other Trader Joe's locations in Colorado will also open today. (Photo by RJ Sangosti/The Denver Post via Getty Images)
PINECREST, FL - OCTOBER 18: Dawn Moreno shops for yogurt as she enjoys the grand opening of a Trader Joe's on October 18, 2013 in Pinecrest, Florida. Trader Joe's opened its first store in South Florida where shoppers can now take advantage of the California grocery chains low-cost wines and unique items not found in other stores. About 80 percent of what they sell is under the Trader Joe's private label. (Photo by Joe Raedle/Getty Images)
DENVER, CO - FEBRUARY 14: Trader Joe's, located on Colorado Blvd. and East 8th Avenue in Denver, is ready for its grand opening, February, 14 2014. Two other Trader Joe's locations in Colorado will also open today. (Photo by RJ Sangosti/The Denver Post via Getty Images)
PINECREST, FL - OCTOBER 18: Dawn Moreno shops for yogurt as she enjoys the grand opening of a Trader Joe's on October 18, 2013 in Pinecrest, Florida. Trader Joe's opened its first store in South Florida where shoppers can now take advantage of the California grocery chains low-cost wines and unique items not found in other stores. About 80 percent of what they sell is under the Trader Joe's private label. (Photo by Joe Raedle/Getty Images)
PINECREST, FL - OCTOBER 18: A shopper looks over the meat selection as she visits the grand opening of a Trader Joe's on October 18, 2013 in Pinecrest, Florida. Trader Joe's opened its first store in South Florida where shoppers can now take advantage of the California grocery chains low-cost wines and unique items not found in other stores. About 80 percent of what they sell is under the Trader Joe's private label. (Photo by Joe Raedle/Getty Images)
PINECREST, FL - OCTOBER 18: A shopper looks over the dairy section as she visits the grand opening of a Trader Joe's on October 18, 2013 in Pinecrest, Florida. Trader Joe's opened its first store in South Florida where shoppers can now take advantage of the California grocery chains low-cost wines and unique items not found in other stores. About 80 percent of what they sell is under the Trader Joe's private label. (Photo by Joe Raedle/Getty Images)
PINECREST, FL - OCTOBER 18: Shoppers enjoy the grand opening of a Trader Joe's on October 18, 2013 in Pinecrest, Florida. Trader Joe's opened its first store in South Florida where shoppers can now take advantage of the California grocery chains low-cost wines and unique items not found in other stores. About 80 percent of what they sell is under the Trader Joe's private label. (Photo by Joe Raedle/Getty Images)
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