Can you feel it? The hallowed spring buying season is fast approaching—sooner rather than later, according to furry February forecaster Punxsutawney Phil. And just why do spring and summer make up the high season for real estate sales? Because of all the families who want to move during the summer and get settled before their kids start school in the fall. But you knew that already, right?
Yep, schools are a huge factor in real estate. Whether or not you have kids, a good school district will boost your home’s value—and a bad one can torpedo it. And if you are a parent, you want the best school you can afford for your kids, without bankrupting yourself. Of course, there’s always private school—with average tuitions ranging from $7,000 to well over $20,000 a year
Like we said, you don’t want to go bankrupt, right?
It’s little wonder that people are quite willing to shell out extra to get a home in a top school district. Our previous study found that nearly half of home buyers said they would be willing to go over their budget by up to 10% in order to buy within the boundaries of their preferred school.
So our data analysts got out their textbooks, their notepads and erasers, and their shiny apples for teacher and decided to take a look at what kinds of schools you’re getting for your real estate dollars. For each public school district rated 10 (the highest) by GreatSchools.org, we calculated the median home price within that district. We then compared home prices in each of those top school districts with the counties in which they’re located, and identified the top 10 districts where you’ll pay the smallest premium (or even a discount!). That gave us a list of top school districts that are most within financial reach.
So here are the best in (and out of) class:
No. 10 Mason City Schools (Mason, OH)
Median home price: $297,500 (25% higher than county median)
The Mason City Schools district enrolls more than 10,000 students in a beautiful suburban setting outside Cincinnati. What’s not to love? The place is renowned for high national rankings in math and reading scores, and last year, the high school celebrated 20 students who achieved distinction in the National Merit Scholarship competition.
Homes within the district ask for a median of $297,500, and the median of Warren County is $238,000. So a $60,000 price boost gets you one of the state’s best performing schools—isn’t that a sweet deal?
No. 9 Fort Thomas Independent Schools (Fort Thomas, KY)
Median home price: $169,900 (18% higher than county median)
Educationwise, Kentucky gets a bad rap. Right across the river from Cincinnati lies the state’s highest-performing public school district for the 17th consecutive year. Of the five schools in the district, four were named Blue Ribbon Schools of excellence by the U.S. Department of Education.
Buy a home in the district for just $169,900, and you can send your kids to these top-notch educational institutions. Oh, you want a career, too? The community is just 5 miles from downtown Cincinnati—not a bad commute at all!
No. 8 Regional School District 09 (Redding, CT)
Median home price: $662,450 (11% higher than county median)
A median home price of $662,450 may seem steep, but in Connecticut’s tony Fairfield County, it’s actually quite reasonable. The overall price in the region is almost $600,000 to begin with, so you pay only 11% more for the top performing Joel Barlow High School, which boasts a reading proficiency rate of 98% and math proficiency rate of 97%. Score!
No. 7 Murray Independent Schools (Murray, KY)
Median home price: $124,900 (6% higher than county median)
Did we already mention that Kentucky excellence extends way beyond mere bourbon, bluegrass, and fried chicken? The Murray Independent Schools system has a history of accomplishment—it has won the “What Parents Want” award from School Match each year since 1996. Most recently, the district’s assessment result was ranked the third in the state.
The town of Murray is located in the southwestern region, about two hours from Nashville, TN. Oh, and Murray was named America’s friendliest town by USA Today. KFC for all! (At least that’s how we imagine it.)
No. 6 Cedarburg School District (Cedarburg, WI)
Median home price: $329,000 (5% higher than county median)
About 17 miles north of Milwaukee, in the historical town of Cedarburg, the town’s namesake school district consistently achieves one of the state’s top rankings in math, science, and reading. The high school, one of the nation’s Blue Ribbon schools, boasts a graduation rate of 99% and made U.S. News & World Report’s list of America’s best.
No. 5 Red Lodge High School (Red Lodge, MT)
Median home price: $289,700 (4% higher than county median)
Red Lodge High School is ranked as the second best in Montana by U.S. News & World Report. Among its 173 students, 98% are proficient in reading and 76% are proficient in math.
In this case, the good school comes at the price of a convenient location. At the foot of the Red Lodge Mountain, the community is about an hour away from Billings, MT—the nearest big city. It’s pretty, though.
No. 4 Los Alamos Public Schools (Los Alamos, NM)
Median home price: $237,500 (3% lower than county median)
Since it’s home to the Los Alamos National Laboratory, it’s no surprise that schools in Los Alamos focus on computer science and technology. Technical education programs at the high school include auto mechanics, engineering and architectural drafting, computer-aided drafting, and electronics.
About 70 homes within the district are currently on the market for a median of $237,500—3% lower than the county median.
No. 3 Winfield School District 34 (Winfield, IL)
Median home price: $249,900 (23% lower than county median)
In the Chicago suburbs, the district’s two elementary schools enroll more than 300 students and have a student-to-teacher ratio of 16:1. Winfield Central School, serving third to 8th grade, receives a GreatSchools.org rating of 10 for excellent scores in math, reading, and science in all grades.
Forty-five minutes away from downtown Chicago, the community is almost at the fringe of the metro area, which offers a discount on home price: Median home price within the district is 23% lower than overall DuPage County.
No. 2 Essex Community Education Center (Essex Junction, VT)
Median home price: $252,500 (25% lower than county median)
The 1,000 or so students in the district are served by 150 teachers, resulting a 7.02 student-to-teacher ratio. The high school within the district has a proficiency rate of 60% in math, 87% in reading, and 46% in science, earning a rating of 10 by GreatSchools.org. East of the Burlington international airport, the community is a 15-minute drive from downtown Burlington.
No. 1 Community High School District 117 (Lake Villa, IL)
Median home price: $219,900 (27% lower than county median)
This district with more than 100 years of history comprises four schools with 2,800 students. The Chicago Tribune reports that more than 60% of Lakes Community High School students are prepared for college work, well above the 45.6% of students in the state as a whole.
Halfway between Chicago and Milwaukee, the not-so-ideal location offers a price discount of 27% compared with the Lake County median.
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You may have detected a pattern here: Most of the districts on our list are in Midwestern suburban or small-town communities. Sadly (for city lovers), you have to move away from the bright lights if you don’t want to go way over budget for a great education for your kids.
To put it all into perspective, can you guess how much more people pay for the top schools in sought-after markets? Here’s what some well-off parents are willing to invest in their children’s future:
Rank
School district
Location
Median home price
% higher than county median
1
Alpine School District
Alpine, NJ
$4,995,000
903%
2
Millburn Township School District
Millburn, NY
$1,972,500
647%
3
Kenilworth School District 38
Kenilworth, IL
$1,399,000
542%
4
Quogue Union Free School District
Quogue, NY
$2,300,000
515%
5
Saddle River School District
Saddle River, NJ
$2,995,000
501%
6
Winnetka School District 36
Winnetka, IL
$1,299,999
496%
7
Sea Girt Borough School District
Sea Girt, NJ
$2,250,000
451%
8
Scarsdale Union Free School District
Scarsdale, NY
$2,524,900
428%
9
Glencoe School District 35
Glencoe, IL
$1,149,000
427%
10
Highland Park Independent
Dallas, TX
$1,449,000
410%
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