The Connection Between Real Estate Home Values and Schools
Hello Hampton Roads,
Have you ever wondered about the connection between real estate home values and schools?
It's no coincidence that the most desirable neighborhoods and higher home values are in areas with strong school districts and that the least desirable areas and lower home values are in areas with struggling school districts. School districts influence neighborhood choice and many buyers with school-aged children are willing to pay more, or compromise on a smaller house or certain on amenities to be in a better school district. Additionally, buyers without school-aged children know that this demand leads to stronger property values and therefore, better re-sale opportunities.
In fact, according to a 2016 study "Schools and Housing Report" by Attom Data Solutions,
areas with good schools have property values up to 77% higher than areas without them.
If you are in the market to buy a home and school districts are a factor in your decision making process, see the table below showing the strength of public schools in the Hampton Roads area:
If you would like more information about a specific school, you can see VDOE's School Quality Report. The schools are filtered by city and you can select your city of interest to change the location of the search.
Schools are important factor is selecting housing but it's not the only factor. Type of home, lifestyle (do you prefer a country or more urban setting), proximity to work, family, friends and things you enjoy doing are also important.
If you have questions about the home buying process and want to find out more, feel free to contact me.
Thanks for Reading,
_________________________
Serving your Hampton Roads and Virginia Beach Real Estate needs. Liz Schuyler on Google+
Have you ever wondered about the connection between real estate home values and schools?
It's no coincidence that the most desirable neighborhoods and higher home values are in areas with strong school districts and that the least desirable areas and lower home values are in areas with struggling school districts. School districts influence neighborhood choice and many buyers with school-aged children are willing to pay more, or compromise on a smaller house or certain on amenities to be in a better school district. Additionally, buyers without school-aged children know that this demand leads to stronger property values and therefore, better re-sale opportunities.
In fact, according to a 2016 study "Schools and Housing Report" by Attom Data Solutions,
areas with good schools have property values up to 77% higher than areas without them.
If you are in the market to buy a home and school districts are a factor in your decision making process, see the table below showing the strength of public schools in the Hampton Roads area:
City
|
Fully
Accredited Public Schools
2017-2018
|
Enrollment
Data from
2017
|
Reading
Proficiency
Latest data
fr 2016
|
Math
Proficiency
Latest data
fr 2016
|
Science
Proficiency
Latest data
fr 2016
|
Social
Studies Proficiency
Latest data
fr 2016
|
Virginia Beach
|
100%
|
68,986
|
86%
|
84%
|
87%
|
88%
|
Norfolk
|
61.4%
|
30,787
|
71%
|
70%
|
73%
|
78%
|
Chesapeake
|
84.4%
|
40,656
|
82%
|
84%
|
87%
|
90%
|
Portsmouth
|
63.2%
|
14,339
|
71%
|
71%
|
75%
|
83%
|
Suffolk
|
72.2%
|
14,359
|
77%
|
78%
|
79%
|
83%
|
Hampton
|
65.5%
|
19,911
|
76%
|
75%
|
75%
|
82%
|
Newport News
|
55.3%
|
28,684
|
70%
|
71%
|
74%
|
80%
|
-Data is from VDOE
(Virginia Dept of Education)
If you would like more information about a specific school, you can see VDOE's School Quality Report. The schools are filtered by city and you can select your city of interest to change the location of the search.
Schools are important factor is selecting housing but it's not the only factor. Type of home, lifestyle (do you prefer a country or more urban setting), proximity to work, family, friends and things you enjoy doing are also important.
If you have questions about the home buying process and want to find out more, feel free to contact me.
Thanks for Reading,
_________________________
Serving your Hampton Roads and Virginia Beach Real Estate needs. Liz Schuyler on Google+
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