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Target vs. Wal-Mart: Where Are Nearby Home Prices the Highest?

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Target and Walmart store

John Greim/LightRocket via Getty Images; Tony Tremblay/iStock

Home sellers looking to maximize their profits (and who isn’t, really?) should hope they live near a Target. Or at least not near an outpost of competing big-box discount chain Wal-Mart. Owners who lived in the same ZIP code as the shabby-chic discounter with the funky TV commercials saw their property sales prices appreciate about 27% in 2015, according to a recent report from the real estate data firm RealtyTrac. That translates into those sellers pocketing an average $65,569 over what they shelled out for their residences. Sweet! But property prices near the less-trendy Wal-Marts were significantly slower to rise, appreciating 16% for the year, for an average of $24,900. Nationally, homeowners saw gains of about 22% last year, adding up to a none-too-shabby, average $40,626 bump. RealtyTrac came to its conclusions by locating all U.S. ZIP codes with the superstores and then analyzing public home sales data from those areas. Any ZIP code with both big-box chains was excluded. “This is not necessarily showing that Targets are the reason that these homes are gaining value,” says RealtyTrac spokesman Daren Blomquist. “But Targets are picking neighborhoods where the homes tend to be higher value.” Meanwhile, Wal-Marts tend to go up in more rural swaths of the country. “Those areas tend to have less expensive homes and less expensive land,” Blomquist says.
It pays to live near a Target instead of a Wal-Mart when selling your house, according to RealtyTrac.


It pays to live near a Target instead of a Walmart when selling your house, according to RealtyTrac.
But residents of Target neighborhoods tended to pay more for their houses—and for their annual property taxes, according to the report. Residences sharing a ZIP code with Target had an average value of $307,286 in 2015—a gargantuan 72% more than properties near a Wal-Mart, according to the report. The average home value close to the megachain was an average $178,249. Nationwide, it was $215,921. But RealtyTrac isn’t the only one to look at how home prices near other popular megachains stack up. Last year, we analyzed property values near upscale grocery giants Whole Foods and Trader Joe’s—and found home appreciations were up 40% for those lucky enough to live near a Trader Joe’s. Those close to a Whole Foods saw only a 34% bump. The post Target vs. Wal-Mart: Where Are Nearby Home Prices the Highest? appeared first on Real Estate News and Advice -
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