Better to Own Near Walmart or Target? Where to Save Money and Expect More

Posted on Mar 14 2016 - 1:30pm by Housecall

Research has shown that homes situated near a Trader Joe’s or Whole Foods see significant increases in value. Can big-box retailers have a similar effect?

According to an analysis by housing data leader RealtyTrac®, homes near a Target store see higher home value and appreciation than those near Walmart—but homeowners near Target pay higher property taxes.

Of homeowners who sold last year, those near a Target saw an average 27 percent increase in price since they purchased their home (an average price gain of $65,569); those near a Walmart saw an average 16 percent appreciation (an average price gain of $24,900). Homeowners who own near a Target pay an average of $7,001 in property taxes, which is 123 percent more than the $3,146 average paid by homeowners who own near a Walmart.

Homes near a Target also have a higher value: $307,286, on average. This is 72 percent higher than the $178,249 average value for homes near a Walmart.

Comparatively, the average price appreciation nationwide is 22 percent (an average price gain of $40,626), the average property tax nationwide is $4,283, and the average home value nationwide is $215,921.

Walmart or Target

3 Comments so far. Feel free to join this conversation.

  1. SALVADOR ALEGUAS March 23, 2016 at 10:39 am -

    I beleive this comment does not effect all tax values especially
    in Florida where the taxes are based on what price u paid for
    the property no matter where its located and whether its
    in the County or a City not where a Walmart or Target is

    • Magda Robles March 25, 2016 at 12:48 pm -

      Correct Salvador. Thank you for taking the time to respond. The person who is giving opinion on value is not a Realtor nor an appraiser.

      Homes are taxed based on the mileage rate of the county and location of property.

      Need more details: Here is the link for Broward County – Florida

  2. Marvin April 5, 2016 at 10:59 pm -

    I lived in my home for 20 years minding my own business when Walmart bought a large parcel next to our street and now I have a supercenter 250 feet from my back door.. Aside from the pure living hell of being kept awake for over a year while they didnt comply with city noise codes, we are kept awake many nights a week by loud employees on break, constant truck deliveries at all hours (illegal per city) and car alarms going off, campers in the parking lot and of course police chasing shoplifters up through our area. NOBODY would uy my house now just as a family home. And yes, my taxes went up. Thanks Walmart!