Homebuyers are willing to pay premium prices for homes in top-ranked school districts compared to nearby homes with identical features but in less sought after districts, according to a study by the online real estate brokerage Redfin. Read the full report for details on the results and methodology.
Among the highlights:
When accounting for size, on average, people pay $50 more per square foot for homes in top-ranked school zones compared with homes served by average-ranked schools. This means that the price differences for similar homes located near each other but served by different schools can range from tens to hundreds of thousands of dollars. – Redfin
Read coverage of the Redfin report including:
Better schools equal pricier homes – HousingWire
Study: $50 More Per Square Foot for Homes Near Good Schools – REALTOR® Magazine