Americans are frequent shoppers of Walmart and Target, which offer everything from clothes and electronics to groceries and miscellaneous household items at low prices. But which superstore is a better financial choice for homeowners? RealtyTrac's Jennifer Von Pohlmann investigated home values, appreciation and property taxes in U.S. zip codes with a Walmart or a Target to find out which of the two gave shoppers the best bang for their buck.
The winner was Target, with the data showing that homeowners near this store have better home value appreciation. But, they also pay more and have higher property taxes on average. In 2015, homeowners near Target who sold their home saw a 27% increase in home price since the original purchase of the home, compared to only 16% appreciation for owners located close to a Walmart. Notably, those near a Target saw appreciation at a rate higher than the national average of 22%, while homes near Walmart saw less increase in value.
Homes near Target are also worth more on average than both the national average and than homes near a Walmart, but Target homeowners will pay for some of that difference in property tax. Von Pohlmann writes:
Homes near a Target also have a higher value on average: $307,286, 72 percent more than the $178,249 average value for homes near a Walmart. The average value of homes was $215,921 across all zip codes nationwide. Homeowners near a Target paid an average of $7,001 in property taxes, 123 percent more than the $3,146 average for homeowners near a Walmart. The average property tax across all zip codes nationwide was $4,283.