The Starbucks Effect: Can Coffee Shop Proximity Raise a Home’s Value?

Reuters recently wrote an article about YouTube employee¬†Vanessa Pappas, who purchased real estate¬†in Brooklyn partially because of it’s proximity to their favorite coffee shop.

“It turns out that easy access to quality java has broader implications. Call it the Starbucks Effect: Proximity to a local coffee shop has a very real, and positive, effect on home values, new data shows.

“Coffee houses emerged early on as a big predictor of future home value. Within a quarter mile, close enough to smell the coffee brewing, that ring appreciates faster than rings further out,” Humphries says.

How much faster? Over 17 years tabulated by Zillow, leading up to 2014, homes adjacent to the local Starbucks almost doubled in value, up by 96 percent. Those further out appreciated by 65 percent over the same period.”

read more from Reuters.com here:
http://www.reuters.com/article/2015/02/06/us-realestate-starbucks-homeprices-idUSKBN0LA1CI20150206

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