Do Grocery Stores Affect Home Values in Oakland County Mi?

Oakland County Mi grocery shopping cart

As we prepare for our Thanksgiving gatherings this Thursday, I had a thought on how convenient  it is to have such great grocery stores in my Oakland County, Michigan area and not needing to travel long distances to shop for groceries. Shopping for me is not one of my favorite things to do on a normal day, but on Thanksgiving it seems to something that I enjoy and look forward to. As I was in the check-out and my real estate mind started pondering the benefits of having great grocery stores in the Oakland County Michigan area and how it affects home values in the area.

It’s nice to have a grocery store in the Oakland County Michigan area. After all, you’re going to need groceries. So having a store nearby that you can quickly run to when you run out of something is a coveted convenience. But it may be more than just convenient, according to a new analysis from ATTOM Data Solutions. Their recently released 2022 Grocery Store Wars looked at home values near three popular grocery store chains to determine where values were the highest. What they found was average home values were highest in neighborhoods near Trader Joe’s.

In fact, homes near Trader Joe’s had an average value of $987,923 – compared to $891,416 near Whole Foods and $321,116 near Aldi. Living near an Aldi, though, was best for home appreciation and home seller return-on-investment. Rick Sharga, ATTOM’s executive vice president of market intelligence, says it’s something for home buyers to consider. “Smart home buyers might want to consider where they’ll do their grocery shopping when they’re shopping for a new home,” Sharga said. “It turns out that being located near grocery stores isn’t only a matter of convenience for homeowners but can have a significant impact on equity and home values as well.”

The Take Away

When out doing your grocery shopping in Oakland County Michigan this week for Thanksgiving dinner, not only keep in mind the convivence of the location to your home but also their impact on your homes value. Being close to great grocery stores not only helps you have great resources to be able to make the best Thanksgiving dinner possible, but also is a great asset to your homes value  and makes your Oakland County Michigan home desirable to any home buyer.

ATTOM 2022 Grocery Store Wars Analysis