Living Near A Good School Costs More Than $200,000

According to a new study from the Brookings Institution, “home values are $205,000 higher, on average, in neighborhoods with high-scoring public schools versus schools with low scores.” This pushes up housing costs in areas around good schools by an average of $11,000 per year. The Huffington Post’s Peter Goodman notes that the study “brings home the fact that many people now behind on their mortgages got there not because of stupidity or gluttony, but because of the high cost of satisfying a societal imperative: They wanted to put their children in good schools.”