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What's a School District Worth?

By Liz Wallace

Real Estate Broker/Owner with Century 21 Sherlock Homes

April 21, 2012 04:42 AM

Here on Long Island the prices vary greatly from town to town. I mean like most places the further you get from the City the more house you can generally get for the money. Also towns with water access can demand more money for the homes.

One of the biggest determining factors is the school district. Some towns have more than one school district and the better the district the more money a seller can ask.

CNN Money just did an article about how school districts can influence the value of a home and they said "Home values are $205,000 higher, on average, in neighborhoods with high scoring public schools versus schools with low scores".

I was just wondering what impact school districts had on home prices in other parts of the Country.

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Roger D. Mucci

Shaken...with a Twist 216.633.2092 - Euclid, OH

Lets shake things up at your home today!

Major impact in my area Liz..........because of a screwed up school board, school ratings dropped where Mickey lived, consequently property values went down big time.

Apr 21, 2012 04:45 AM

Juli Vosmik

Dominion Fine Properties - Scottsdale, AZ

Scottsdale/Cave Creek, AZ real estate 480-710-0739

Major impact here, too, Liz. And, I remember when I lived back in the Chicago area - one of the outlying suburb's school district went completely bankrupt and closed up all of the schools. Had to start bussing the kids out. That city's property values plummeted - you almost coudn't give away a home in that town.

Apr 21, 2012 04:58 AM

Malcolm Johnston

Century 21 Lanthorn Real Estate LTD., Trenton, Ontario - Trenton, ON

Trenton Real Estate

It doesn't seem to play a big role in my area Liz, perhaps because the province of Ontario has implemented standardized curriculums and there is a concerted effort not to allow certain schools to lag behind others.

Apr 21, 2012 05:16 AM

Liz and Bill Spear

Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH

Transaction Alliance Cincinnati & Dayton suburbs

Liz, Major here, but our price point doesn't allow for a 200k swing! But the best school districts do the best, no doubt about it. It's the primary reason we do our market reports based on school districts.

Apr 21, 2012 07:06 AM

Ernie Steele

Lebanon, PA

Huge impact here too Liz...The City of Lebanon has the highest school taxes in the county and also the highest number of single home rentals...Homeowners are moving out, can't sell, and end up landlords...Enjoy your day.

Apr 21, 2012 07:48 PM

What's a School District Worth?

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