According to Statistica, in 2014, there were 11,962 Starbucks locations across the United States, and statistics show they keep expanding. Homebuyers might be excited to have a local Starbucks in the neighborhood, but not just for a morning pick-me-up: its called The Starbucks Effect. New research actually suggests that living near a Starbucks can increase your home worth.
“Between 1997 and 2014, homes within walking distance, or one-quarter mile, of a Starbucks appreciated 96 percent. Compared to the national average for the same time period, 65 percent, it seems having a barista close by is a smart real estate move,” says Forbes.
A word of advice: pick a home that is in a neighborhood on the rise—and of course, a Starbucks nearby! The gourmet coffee chain is “great at picking out up-and-coming locations” as quoted in CNN Money’s article. Here are the top 5 Starbucks Effect locations in the United States:
- Boston, MA.
- Philadelphia, PA.
- Washington, DC
- Chicago, IL.
- Baltimore, MD.
It seems that Pumpkin Spice Lattes and oodles of pastries are not the only perk to living near a Starbucks. Even if you’re a Dunkin’ fan, it might be better to drive the extra distance for your morning cup of joe and purchase a home closer to a Starbucks.
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Wow!
Too bad we don’t have one nearby!
I am walking distance to Starbucks, my home value has gone crazy.