People often choose where to buy a home based on how the schools there perform. If a school doesn’t perform as well, fewer people might choose to relocate there.
A new report looks closer at the link between high school performance and property values. For every one percentage point increase in high school graduation rates, housing value in that same area is predicted to increase by $7,945. That’s according to a new report from Rice Universityâs Shell Center for Sustainability.
So, if a school does poorly, people don’t move there. And if people don’t move there, school’s might close. And both of those factors might drive down property values. And it’s a vicious economic cycle for that particular community.
We learn more from Lester King from Rice and Jane Cahill-West, chair of the city’s Super Neighborhood Alliance.