Did you know that if you live within a quarter-mile of a Starbucks™, your property values could nearly double if you wait long enough? This is according to Zillow’s CEO Spencer Rascoff and chief economist Stan Humphries.
According to a report by Rascoff, homes built near a Starbucks™ appreciate way faster than nationwide trends. In fact, according to their numbers, since 1997 homes adjacent to the popular coffee shop have appreciated 96%, while average American homes not near one have appreciated at only 65%.
And it isn't just for the popular Seattle chain. Dunkin’ Donuts™ also has an impressive effect on nearby property values. According to the same report, properties near the popular donut shop appreciated 80% since 1997, pacing a little bit behind Starbucks™, but still substantially beating out the average trends.
So be sure not to glaze over the variables that can drive home values! Paying attention to popular businesses in an area can help provide insights into future home values.