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School Quality, Neighborhoods, and Housing Prices

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  • Thomas J. Kane
  • Stephanie K. Riegg
  • Douglas O. Staiger

Abstract

We study the relationship between school characteristics and housing prices in Mecklenburg County, North Carolina, between 1994 and 2001. During this period, the school district was operating under a court-imposed desegregation order and drew school boundaries so that students living in the same neighborhoods were often sent to very different schools in terms of racial mix and average test scores of the students. We use differences in housing prices along assignment zone boundaries to disentangle the effect of schools and other neighborhood characteristics. We find systematic differences in house prices along school boundaries although the impact of schools is only one-quarter as large as the naive cross-sectional estimates would imply. Part of the impact of school assignments is mediated by differences in the characteristics of the population and the quality of the housing stock that have arisen on either side of the school assignment boundary. Copyright 2006, Oxford University Press.

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Bibliographic Info

Article provided by Oxford University Press in its journal American Law and Economics Review.

Volume (Year): 8 (2006)
Issue (Month): 2 ()
Pages: 183-212

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Handle: RePEc:oup:amlawe:v:8:y:2006:i:2:p:183-212

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Cited by:
  1. Sofia N. Andreou & Panos Pashardes, 2012. "Consumers’ Valuation of Level and Egalitarian Education Attainment of Schools in England," University of Cyprus Working Papers in Economics, University of Cyprus Department of Economics 10-2012, University of Cyprus Department of Economics.
  2. Gabrielle Fack & Julien Grenet, 2010. "When do Better Schools Raise Housing Prices? Evidence from Paris Public and Private Schools," CEE Discussion Papers, Centre for the Economics of Education, LSE 0119, Centre for the Economics of Education, LSE.
  3. Alcalde, José & Subiza, Begoña, 2012. "Affirmative Action and School Choice," QM&ET Working Papers 12-3, Universidad de Alicante, Departamento de Métodos Cuantitativos y Teoría Económica.
  4. Susan Dynarski & Jonathan Gruber & Danielle Li, 2009. "Cheaper By the Dozen: Using Sibling Discounts at Catholic Schools to Estimate the Price Elasticity of Private School Attendance," NBER Working Papers 15461, National Bureau of Economic Research, Inc.
  5. John Yinger, 2009. "Hedonic Markets and Explicit Demands: Bid-Function Envelopes for Public Services, Neighborhood Amenities, and Commuting Costs," Center for Policy Research Working Papers, Center for Policy Research, Maxwell School, Syracuse University 114, Center for Policy Research, Maxwell School, Syracuse University.
  6. Stephanie Riegg Cellini & Fernando Ferreira & Jesse Rothstein, 2008. "The Value of School Facilities: Evidence from a Dynamic Regression Discontinuity Design," Working Papers, Princeton University, Department of Economics, Center for Economic Policy Studies. 1101, Princeton University, Department of Economics, Center for Economic Policy Studies..
  7. Lamarche, Carlos, 2011. "Measuring the incentives to learn in Colombia using new quantile regression approaches," Journal of Development Economics, Elsevier, Elsevier, vol. 96(2), pages 278-288, November.
  8. Feng, Hao & Lu, Ming, 2013. "School quality and housing prices: Empirical evidence from a natural experiment in Shanghai, China," Journal of Housing Economics, Elsevier, Elsevier, vol. 22(4), pages 291-307.
  9. Alcalde, Jose & Subiza, Begoña, 2011. "On Integration Policies and Schooling," MPRA Paper 29145, University Library of Munich, Germany.
  10. Bergantino, Angela Stefania & Porcelli, Francesco, 2013. "Housing market prices: capitalisation of efficiency in local public service provision. An application with data on Italian urban transport related expenditures," Working Papers 1302, SIET Società Italiana di Economia dei Trasporti e della Logistica.
  11. Machin, Stephen, 2011. "Houses and schools: Valuation of school quality through the housing market," Labour Economics, Elsevier, Elsevier, vol. 18(6), pages 723-729.
  12. Fiva, Jon H. & Rønning, Marte, 2008. "The incentive effects of property taxation: Evidence from Norwegian school districts," Regional Science and Urban Economics, Elsevier, Elsevier, vol. 38(1), pages 49-62, January.
  13. Ben Ost, 2014. "How Do Teachers Improve? The Relative Importance of Specific and General Human Capital," American Economic Journal: Applied Economics, American Economic Association, vol. 6(2), pages 127-51, April.
  14. Nguyen-Hoang, Phuong & Yinger, John, 2011. "The capitalization of school quality into house values: A review," Journal of Housing Economics, Elsevier, Elsevier, vol. 20(1), pages 30-48, March.
  15. Timothy J. Bartik, 2009. "How Policymakers Should Deal with the Delayed Benefits of Early Childhood Programs," Upjohn Working Papers and Journal Articles, W.E. Upjohn Institute for Employment Research 09-150, W.E. Upjohn Institute for Employment Research.
  16. Brunner, Eric J. & Cho, Sung-Woo & Reback, Randall, 2012. "Mobility, housing markets, and schools: Estimating the effects of inter-district choice programs," Journal of Public Economics, Elsevier, Elsevier, vol. 96(7), pages 604-614.

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