It is a given that real estate is more expensive in places where children receive a better education, but new graphs from the District's Office of Revenue Analysis show just how closely they are aligned with each other.Three-bedroom homes in DC neighborhoods with the very best elementary schools (defined as a student body where 80 percent or more are proficient or advanced in reading) typically cost over $800,000. It will still cost a family between $600,000 and $1 million to buy a three bedroom home in Washington, DC, in areas where only 60 to 80 percent of students are proficient or advanced in reading.
What happens if you can't spend that much? If you are looking for a three bedroom home with a median price under $600,000, then you are looking in school zones that have fewer than 60 percent of proficient or advanced students in reading. Similarly, zones with a median 3-bedroom home price of under $500,000 generally had schools with a proficiency rate under 50 percent.
For more information about particular schools in DC, be sure to check out www.greatschools.org.
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