What's a School District Worth?

By
Real Estate Broker with Century 21 Sherlock Homes

 

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.

Posted by

Liz Wallace

Broker Century 21 Sherlock Homes

www.century21sherlockhomes.com

cell: 516-225-0960

office: 516-764-2601

Serving the South Shore of Long Island, We Take The Mystery Out of Buying and Selling Homes.

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Topic:
Home Selling
Location:
New York
Groups:
Long Islander Agents
I Love NY
Posts to Localism
Active Rain Newbies
Tags:
nassau county home sales
school districts on long island
home values on long island

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Rainmaker
1,292,365
Roger D. Mucci
Lets shake things up at your home today!
Shaken...with a Twist 216.633.2092

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.

April 21, 2012 11:45 AM
Rainmaker
692,485
Juli Vosmik
Scottsdale/Cave Creek, AZ real estate 480-710-0739
Dominion Real Estate Partners, LLC, Scottsdale, AZ

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. 

April 21, 2012 11:58 AM
Rainmaker
447,855
Malcolm Johnston
Trenton Real Estate
Century 21 Lanthorn Real Estate LTD., Trenton, Ontario

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.

April 21, 2012 12:16 PM
Ambassador
1,360,184
Liz and Bill Spear
RE/MAX Elite Warren County Ohio
RE/MAX Elite 513.265.3004 www.LizTour.com

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.

April 21, 2012 02:06 PM
Rainmaker
296,638
Ernie Steele
Lebanon, PA Real Estate 717-273-3774
Prudential Homesale Services Group

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.

April 22, 2012 02:48 AM
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Rainmaker
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Liz Wallace

Broker C21 Sherlock Homes, Rockville Centre, LI, N
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