Zillow CEO: Starbucks will boost your home’s value

Feb 27, 2015

Spencer Rascoff, CEO of Zillow (z), joined Fortune Live on Friday and spoke with host Leigh Gallagher about trends in the real estate market.

One fascinating tidbit from his conversation: Zillow home value data show that between 1997 and 2014, homes located within a quarter-mile of a Starbucks (sbux) increased in value by 96%, on average, compared with 65% for all U.S. homes.

If your home is close to a Dunkin' Donuts (dnkn), its price would have appreciated 80% over the same time period, Zillow found.

Why does the Starbucks phenomenon happen? According to Rascoff, it's because of the gentrification effect Starbucks has on an area — it brings in similarly valued retailers.

Coffee chains aren't the only factor boosting your home’s value, Rascoff said. It's best to live on a court or a way, versus a boulevard or a street, he noted. You'll also want those courts and ways to be named instead of numbered.

For more, check out the video below.

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