Reflections of School Quality on the Housing Market: Extending the Definition of Better Schools
نویسنده
چکیده
This study uses a hedonic price method to estimate the effect of school quality on the housing market. Property sales records and elementary school data from Pitt County North Carolina are used to estimate the marginal effect of a given school quality unit. This study finds that higher student performance is associated with higher property values in the school district. For a one-point increase in average test scores, there is a $4,600 premium reflected in the housing market. Results also indicate that highly qualified teachers as well as the level of safety in the school are valued by households. Better access to technology and larger classes also show positive effects on property values.
منابع مشابه
May 2011 Occasional paper 29 Houses and Schools : Valuation of School Quality through the Housing Market EALE
This paper offers a critical appraisal of the now sizable empirical literature that values school quality and performance through housing valuations. This literature consistently finds housing valuations to be significantly higher in places where measured school quality is higher, implying a strong parental willingness to pay to get their children educated in better performing schools. This con...
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