From the Puget Sound Business Journal:
Seattle-based online real estate company Redfin
undertook a study to find out about the correlation between
highly-ranked schools and local real estate prices and found out in
Seattle, a highly-ranked school nearby can add to a home's value by more
"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 ... While we expected to see higher prices for
homes in highly-ranked school zones, we didn’t expect the difference to
be so large," Redfin said in a statement.
The map is showing a home in Wedgwood versus John Rogers.
From the Redfin blog:
In the United States, housing prices in the zones of highly ranked
public schools are remarkably higher than those served by lower ranked
Everyone assumes that better school districts tend to have bigger homes,
higher quality homes, larger lots, or a more prime location (views,
quiet streets, etc). We’ve debunked that assumption.