The Impact of School Districts on Home Prices

If you currently have children, or are planning on having children in the future, a good school district is likely at the top of your home buying priority list.

But the school district the property is in does influence a home’s price, and before you start looking at homes, it’s important to understand that influence and how it might impact your home search.

A recent article from realtor.com explored the connection between quality school districts and home prices, including:

• Why are school districts so important? School districts impact home prices because they’re important to buyers. Buyers with children want to live in an area where their children can go to safe, top-rated schools, and buyers without children want to invest in homes in a solid school district as it can improve the property’s resale value.
• How much more does it cost to live in a good school district? According to data from realtor.com, buying a typical home near a high-rated public elementary school (which they define as a GreatSchools rating of 9 or 10) will cost an average of 78.6% more than a typical home in the surrounding area.
• How can you afford the higher prices of homes in a good school district? If you’re committed to buying a home in a good school district, but are working with a limited budget, you may want to consider compromising on things like square footage, or amenities like a pool.