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The Effect of School Quality on Residential Sales Price

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Author Info
Youngme Seo () (Cleveland State University)
Robert A. Simons () (Cleveland State University)
Abstract

This study seeks to find the extent to which various measures of public school quality are capitalized into house prices after the No Child Left Behind Act (2001). Individual residential sales in Cuyahoga County, Ohio for 2000 and 2005 are analyzed as to the effect of school quality using regression analysis with a spatial error model. Results show that while all school quality measures tested have some explanatory power, school district ratings and performance index, which are comprehensive measures of school quality, are the most appropriate measures and are readily capitalized into housing prices.

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File URL: http://aux.zicklin.baruch.cuny.edu/jrer/papers/pdf/new_current/vol31n03/03.307_328.pdf
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Publisher Info
Article provided by American Real Estate Society in its journal journal of Real Estate Research.

Volume (Year): 31 (2009)
Issue (Month): 3 ()
Pages: 307-328
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Handle: RePEc:jre:issued:v:31:n:3:2009:p:307-328

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Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
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Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
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Find related papers by JEL classification:
L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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  1. Basu, Sabyasachi & Thibodeau, Thomas G, 1998. "Analysis of Spatial Autocorrelation in House Prices," The Journal of Real Estate Finance and Economics, Springer, vol. 17(1), pages 61-85, July. [Downloadable!] (restricted)
  2. David Brasington & Donald R. Haurin, 2006. "Educational Outcomes and House Values: A Test of the value added Approach," Journal of Regional Science, Blackwell Publishing, vol. 46(2), pages 245-268. [Downloadable!] (restricted)
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  3. David M. Brasington, 1999. "Which Measures of School Quality Does the Housing Market Value?," Journal of Real Estate Research, American Real Estate Society, vol. 18(3), pages 395-414. [Downloadable!]
  4. Sandra E. Black, 1999. "Do Better Schools Matter? Parental Valuation Of Elementary Education," The Quarterly Journal of Economics, MIT Press, vol. 114(2), pages 577-599, May. [Downloadable!] (restricted)
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This page was last updated on 2009-12-3.

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