The Starbucks Effect is Real

The Starbucks Effect is Real

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:

  1. Boston, MA.
  2. Philadelphia, PA.
  3. Washington, DC
  4. Chicago, IL.
  5. 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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Anthony Cummuta

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