Pricey Real Estate, Great Schools Don’t Always Mix

Pricey, upscale neighborhoods don’t necessarily mean the schools will be better than less expensive areas, according to new research by Forbes.com and GreatSchools, an education parenting web site.

Schools in areas with median home price above $1.1 million were not found to perform better than those in neighborhoods where homes were priced in the $200,000 to $399,000 range.

Forbes.com and GreatSchools analyzed data from 17,589 towns and cities in 49 states, using standardized tests and information on student performance along with median home prices for the area.

Researchers concede that with the methodology used, schools in larger cities, such as in Los Angeles and New York, are at a disadvantage than smaller towns because in larger cities schools that do not perform well will bring down the average for the school district.

5 Best Places for Schools and Real Estate

Here are five cities that offer the best schools for your real estate buck, according to Forbes and Great Schools.

1. Falmouth, Maine
Median home price: $351,550

2. Mercer Island, Wash.
Median home price: $708,740

3. Pella, Iowa
Median home price: $148,200

4. Barrington, R.I.
Median home price: $296,010

5. Bedford, N.H.
Median home price: $293,730

The full report can be found atwww.forbes.com/greatschools.

Source: “Pricey U.S. Homes Don’t Mean Better Schools,” Reuters News (April 27, 2011)

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One Response

  1. […] Pricey Real Estate, Great Schools Don’t Always Mix (reowablog.wordpress.com) […]

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