While there’s an argument to be had over the relative quality of Target or Walmart as a retailer, there is one big-box store that is much better for your real estate investments.
According to data from RealtyTrac, not only does living near a Target instead of a Walmart mean your house is probably more valuable, but it also means its value is most likely going up much faster.
“Among homeowners who sold in 2015, those near a Target saw an average 27% increase in home price since they purchased their home, which equates to an average price gain of $65,569, compared to 16% appreciation and an average price gain of $24,900 for homeowners near a Walmart,” said the report from RealtyTrac.
The average value gain nationwide is 22%, according to the release.
Not only do the homes appreciate more in areas around Targets, but they are worth more than the average home as well.
“Homes near a Target also have a higher value on average: $307,286, 72% more than the $178,249 average value for homes near a Walmart,” according to the report. “The average value of homes was $215,921 across all zip codes nationwide.”
The downside is, however, homeowners near Walmarts paid less than half in property taxes: $3,146 on average versus $7,001 for homeowners near Targets.
Now to be fair, there could be any number of confounding variables here. For example, the companies may have selected certain locations precisely because of certain types of homeowners live there. But the correlation is still interesting.
RealtyTrac also compiled a infographic visualising all these interesting facts, check it out below.