Both banners belong to TJX, which is exactly why they feel so similar once you are inside. The buyers work the same off-price model: opportunistic purchases of brand-name and designer merchandise, priced below the full-retail ticket, with no coupon layer because the everyday price is the deal. That shared model is why you will spot the same candle brand, the same serveware, sometimes the literal same item in both stores.
The split is floor space. HomeGoods spends its entire footprint on home: furniture, rugs, mirrors, lighting, textiles, tabletop, kitchen, storage, seasonal, and wall decor, each with real depth. T.J. Maxx is an apparel-first store — clothing, shoes, handbags, beauty, toys, jewelry — that also runs a home department. That department is genuinely good, and it skews fashion-forward and seasonal, but it is a slice of the building rather than the whole thing.
One wrinkle worth knowing before you drive anywhere: TJX operates combination stores that put HomeGoods and T.J. Maxx (or Marshalls) under one roof. If your local store is a combo, the distinction below softens considerably — you get the full home banner and the apparel banner in a single trip. It is worth checking which format your nearest location actually is.