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The Effect Of A School District On Real Estate

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The Effect of a School District on Real Estate

If you are a parent you understand the importance of school districts. Schools differ greatly from one district to the next and parents that want their children in the best schools take action. But, are people really willing to base their real estate search around the school district they are looking for. We have the stats to prove they do.

Realtor.com conducted a survey in 2013 that found an astounding 91 percent of home buyers took the school district into consideration during their home search. School districts are important. There are extreme stories of people purchasing homes sight unseen strictly because it lies in the school zone they desire. While, not all buyers go to this extreme, the majority are concerned about schools.

Buyers Are Willing to Make Sacrifices

Buyers looking to live within a certain school district are …show more content…

One in three buyers that desire a specific school district are willing to purchase a smaller house and 20 percent of buyers would sacrifice on the number of bedrooms.

Is it the Chicken or the Egg?

The numbers prove that houses in top school districts sell for more money. However, the statistics aren’t as clear about what the cause is for this. Some people believe that the good school districts are the reason that the houses are able to sell for more, thus bringing in more affluent homeowners. However, the other side believes that the schools are good because the houses cost more only allowing the more affluent homeowners to move into the area.

In the end the argument doesn’t really matter. Either way homes within good school districts bring in higher prices than those with lower rated schools. This leads to a trickle-down effect. Good schools lead to higher home prices. More affluent buyers purchase the homes, which helps to make the community as a whole more

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