A new study from the National Association of Realtors’ consumer website shows why homeowners benefit from living in an area with good schools. The study looked at the 50 most popular school districts by metro area and found that, in more than half of them, median list prices averaged $1.21 million, which is 135 percent higher than in surrounding metros. That’s a big benefit. Danielle Hale, the website’s chief economist, says schools have always been a factor for buyers. “School quality has long been a driver of home buying decisions,” Hale said. “Our data shows families are making trade-offs – sometimes paying a significant premium for top-rated districts, and other times prioritizing value in areas that still offer strong academics. This year, we also saw a sizable interest in districts outside major urban centers, reflecting both affordability concerns and a desire for lifestyle amenities.” (source)
