Living close to a Starbucks increases home's value?

Living Close to a Starbucks Increases a Home's Value
Living Close to a Starbucks Increases a Home's Value

Now there's another reason to live near a Starbucks -- besides, you know ... living near a Starbucks.

"Homes near Starbucks over the last 17 years have appreciated at 96 percent. Homes near Dunkin' Donuts at 80 percent. And nationwide, homes have appreciated 65 percent," Zillow's CEO Spencer Rascoff told CBS.

Yes -- it seems living near a Starbucks puts more bucks into the value of your home.

This information comes out of the new book "Zillow Talk: The New Rules of Real Estate."

The New York Post reports Zillow found a home near a Starbucks sold for around $137,000 in 1997. Today that house would go for an average of $269,000.

And an excerpt from the book published in Quartz explains they discovered homes within a quarter to half-mile radius to a Starbucks appreciated over 21 percent in value five years after the location opened. Homes farther away only appreciated 17 percent.

Now, Zillow didn't note what states the homes they analyzed were located in, but ABC's Lara Spencer is hopeful.

"We wondered if it works for the apartments near the over 200 Starbucks on just about every street corner here in New York City," ABC anchor Lara Spencer said.

So -- now you've got to know -- how does Starbucks pick its locations?

Last year, Forbes reported the coffee giant utilizes data-mapping software to determine where new customers can be found and where to place new stores so they don't compete with already existing ones.

Currently, the company has more than 20,000 locations all over the world, so if you're looking for a new place to live, it's a decent bet you'll probably be able to find one with a Starbucks close by.

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