Did you ever think that owning a home near a Starbucks would be more valuable to satisfying your latte addiction? According to a Zillow report with a database of Starbucks locations, between 1997 and 2014, values increased by 96% on average on homes that were within a quarter-mile of the popular coffee shop compared to 65% for all U.S. homes. In fact, some locations even grounded up more aromatic returns.
The Zillow study also found that homes located near Dunkin’ Donuts coffee shops appreciated 80% on average during the same 17-year period. During 1997 to 2014, the largest effect on home values were in the following metro area:
1. Boston, MA, ironically, deep in the heart of Dunkin’ Donuts territory
2. Philadelphia, PA, where blonde roast reigns, according to Time magazine
3. Washington, DC
4. Chicago, IL, Starbucks’ first market outside the Northwest
5. Baltimore, MD
6. Portland, OR, where the favorite drink is an eggnog latte
7. Miami-Fort Lauderdale, FL
8. Atlanta, GA
9. Seattle, WA
10. Starbucks’ hometown Riverside, CA
Our own City of Parkland is located in the Miami-Fort Lauderdale metro area. I never thought how there are two Starbucks conveniently located both in East Parkland and by West Parkland. Both coffee shops are within walking distance to a short drive away for all Parkland homeowners. Values have increased by up to 20% in the past few years in Parkland. I never thought to consider that having two Starbucks locations so close by would be a possible reason for the price increases, but the numbers from the study do not lie.
If you read my Parkland Parrot Real Estate Website, you know that the Parkland real estate market is changing on a regular basis. Values here can vary dramatically from neighborhood to neighborhood. Whether you are buying or selling, it is more important than ever to work with a local Realtor who has experience and knowledge of the market and is a full-time real estate consultant. I am honored to be the #6 top producing RE/MAX real estate agent in the entire State of Florida for 2014 along with being one of the top Realtors in Parkland, Florida .I can be reached anytime on my cell at 954-609-0591 or you can fill out a contact form here and I will gladly give you a call back to discuss your real estate needs.
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