The Cheesecake Factory has drawn fresh attention following former President Barack Obama’s joke that President Donald Trump’s White House décor looked “like Saddam Hussein opened a Cheesecake Factory,” a remark that stirred debate over whether the chain caters to everyday Americans. A new analysis of restaurant chains and home values offers some data on where the chain actually fits.
The Washington Sun found that home values near Cheesecake Factory locations were about 27% higher than in similarly dense areas in the same region, a pattern partly explained by the chain’s frequent presence in upscale malls. The outlet built its analysis using data from Overture Maps, Zillow and the Census Bureau, adapting a methodology developed by housing expert Aziz Sunderji for studying businesses located near higher- and lower-value neighborhoods.
The broader findings showed that chains such as Club Pilates, Whole Foods, Warby Parker and Apple stores tend to be located near higher-value homes, while Five Below, Olive Garden, Texas Roadhouse and Planet Fitness were more associated with lower-value neighborhoods.
Top Restaurant Chains by Nearby Home Values
The Cheesecake Factory ranked third among restaurant chains for highest nearby home values. Here is how the top five broke down, with two chains tied for fifth place.
Cava, the fast-casual Mediterranean and Greek chain, topped the list: home values within three miles of its locations were 39% higher than in comparable areas. Cava traces its roots to 2006, when three childhood friends opened a Greek restaurant honoring their heritage. They began selling dips in grocery stores in 2008 and launched the fast-casual chain in 2011. The company celebrated its 500th store opening in September, according to a news release.
Shake Shack came in second, with nearby home values 38% higher than similar areas. The burger chain began in 2001 as a hot dog cart in New York City’s Madison Square Park, launched by restaurateur Danny Meyer’s Union Square Hospitality Group to support a public art project. Its popularity led to a first permanent location in 2004, and it has since grown into an international fast-casual chain known for Angus beef burgers, crinkle-cut fries, hot dogs, chicken sandwiches and milkshakes. Meyer told Eater last year that Shake Shack helped define the premium smash-burger category of the mid-2010s.
“We certainly didn’t invent them — but as a category, they now seem to be everywhere,” Meyer told Eater.
The Cheesecake Factory took third place. Its origins trace to Beverly Hills, California, where David Overton opened the first restaurant in 1978 to showcase his mother Evelyn’s cheesecakes. She had begun baking in Detroit in the 1940s before opening a small bakery in Los Angeles in 1972. The chain has since grown to about 250 restaurants worldwide and has become closely associated with the suburban mall dining experience of the 1990s and 2000s, known for its large portions, sprawling menu and elaborate interiors.
P.F. Chang’s ranked fourth, with nearby home values 26% higher than comparable areas. Known for dishes like Chicken Lettuce Wraps and Mongolian Beef, the Asian-inspired chain shares the Cheesecake Factory’s ties to the casual-dining boom, its mall locations and its generous portions. Founded in 1993 in Scottsdale, Arizona, P.F. Chang’s now operates more than 300 restaurants in over 20 countries.
Chipotle Mexican Grill and Panera Bread tied for fifth, with home values within three miles of both chains’ locations 17% higher than comparable areas. Chipotle was founded near the University of Denver in 1993, inspired by San Francisco’s Mission District burrito style, and has grown to more than 4,000 restaurants internationally. Panera began as a bakery in 1987 and has expanded to more than 2,250 bakery-cafes across 48 states, Washington, D.C., and Ontario, Canada, with announced plans to expand into locations such as hospitals and universities.
Both Chipotle and Panera commonly appear in suburban shopping centers and retail corridors, according to the analysis.
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