The Aldi effect: Living near a new store adds $6,520 to home value

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In the market for a new home? Finding the right fit has gotten so much more complicated than just making sure you’re in the right school district!

There’s an additional indicator for home value you should look at—the nearest discount grocery store! Homes actually have greater appreciation when they are located by an Aldi, according to a new study.

Read more: Aldi investigates contaminated food report

The impact Aldi can have on your home value

British homeowners who saw a new Aldi open in their neighborhood enjoyed an average property value bump of 5,000 pounds (roughly $6,520), according to research by title transfer firm My Home Move.

To put it another way, British newspaper The Telegraph say the average U.K. home saw a 2.5% percent increase in value from $282,289 to $289,595 as soon as three months after an Aldi opened nearby. 

Actually, the idea that living near a popular store or a highly desirable retail area can add value to your home is nothing new…

Trader Joe’s vs. Whole Foods: Which increases your home’s value more?

Last year, RealtyTrac ran the numbers and found homes have greater appreciation when they are located by a Trader Joe’s than by a Whole Foods.

Homeowners who live in the same zip code as a Trader Joe’s saw a 40% increase in home value over their initial purchase price. Meanwhile, those living in the same zip as Trader Joe’s arch rival Whole Foods only saw a 34% increase, which is on par with national averages.

So Trader Joe’s wins that round of the home value wars with a TKO!

Read more: 8 things you probably didn’t know about Trader Joe’s

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