Home›Real Estate›Residential›Homes in top-rated school zones cost 35% more on avera…

Homes in top-rated school zones cost 35% more on average

Redfin estimates the typical home in highly rated school zones costs $580,000 versus $430,000 overall, and the income needed rises to $159,157 from $117,995.

Reported · Written up by our desk · Residential

Homes tied to highly rated public high school zones carry a sizable price premium in the U.S., with Redfin finding the typical home in areas graded 8 to 10 out of 10 by GreatSchools costs $580,000.

That is 35% higher than the typical home price of $430,000 across the same metro areas, with Redfin also estimating buyers would need $159,157 in annual household income to afford a home in a top-rated zone.

Overall affordability is stretched because both income figures exceed the median U.S. income of $87,599, and Redfin notes the gap is wider when buyers focus on the most sought-after school zones.

The report also highlights that the premium varies by market, citing Little Rock, Arkansas, where the highly rated-zone typical price is about 5% lower than the metro’s overall typical home price, while Anaheim, California, shows a 6% premium, among the smallest in the analysis.

More like this

Sources