The quality of the local school system has traditionally been a major factor in buying a house. But just how much are good schools worth to a home’s value?
Using scores from GreatSchools.org, Realtor.com found that homes in higher-rated public school districts are 49 percent more expensive than the national median, and 77 percent more expensive than homes located in lower-ranked districts in the area. That could be a difference of $131,000 when compared to the median and $175,000 compared to the low-end schools.
Realtor.com also found the school districts with the highest premium, which included districts in the suburbs of Los Angeles, Chicago, and Cincinnati.
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