Parents Are Spending Millions on Their Home To Be Near The Best Schools
According to data from realtor.com, parents are spending millions, often above their area’s median sales price for their children to attend the best public and secondary schools in their area. The schools are based off of GreatSchools rankings, which rates a home from 1-10 (10 being the best) based on factors such as educational attainment, safety, etc.
As seen here, the homebuyers spending this amount are mainly found in California with King, Wash. and New York City, NY also making the list. The highest median sale amount for a public elementary is Gardner Bullis Elementary in Santa Clara ($3,560,000) and Paul Revere Middle School in Los Angeles, CA ($4,900,000)
While this data favors luxury homes, studies have shown that parents of all economic background are willing to sacrifice things they wanted in a home to be near a better school district.
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