Do you know how much the school district that you live in affects your home's value? Homes in areas with good schools not only have higher value, they see better appreciation rates.
Buying a Phoenix Home? Search all Homes for Sale
Selling a Phoenix Home? Check out our FREE Home Value Report
Buying a Phoenix Home? Search all Homes for Sale
Selling a Phoenix Home? Check out our FREE Home Value Report
Your home's school district has a big impact on its value.
According to the 2016 School Housing Report, neighborhoods with at least one good elementary school have greater home values as well as higher appreciation over the long term when compared to homes in districts without good schools.
“
”
Neighborhoods with at least one good elementary school have greater value.
”
A 'good school' is defined as having an average test score of at least 30% above the state average. Of the zip codes with at least one good school, the average estimated home value was $427,000, which is 70% higher than the average home value of $241,000 in zip codes without good schools.
Homeowners in zip codes with at least one good school gain an average of $74,000 in value since the purchase price on the average return of investment increases 32%.
If you're curious about the school district in your area or you have questions about the Phoenix real estate market, give me a call or send me an email. I'd be happy to help you out.
