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School Quality, Neighborhoods and Housing Prices: The Impacts of school Desegregation

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

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 redrew a number of school boundaries. We use two different sources of variation to disentangle the effect of schools and other neighborhood characteristics: differences in housing prices along assignment zone boundaries and changes in housing prices following the change in school assignments. 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. Moreover, house prices seem to react to changes in school assignments. Part of the impact of school assignments is mediated by subsequent changes in the characteristics of the population living in the school zone.

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 11347.

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Date of creation: May 2005
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Publication status: published as Thomas J. Kane & Stephanie K. Riegg & Douglas O. Staiger, 2006. "School Quality, Neighborhoods, and Housing Prices," American Law and Economics Review, Oxford University Press, vol. 8(2), pages 183-212.
Handle: RePEc:nbr:nberwo:11347

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  1. Thomas J. Kane & Douglas O. Staiger, 2002. "The Promise and Pitfalls of Using Imprecise School Accountability Measures," Journal of Economic Perspectives, American Economic Association, vol. 16(4), pages 91-114, Fall.
  2. Thomas J. Nechyba, 2003. "Introducing School Choice into Multidistrict Public School Systems," NBER Chapters, in: The Economics of School Choice, pages 145-194 National Bureau of Economic Research, Inc.
  3. Clotfelter, Charles T, 1975. "The Effect of School Desegregation on Housing Prices," The Review of Economics and Statistics, MIT Press, vol. 57(4), pages 446-51, November.
  4. Patrick Bayer & Robert McMillan & Kim Rueben, 2005. "Residential Segregation in General Equilibrium," NBER Working Papers 11095, National Bureau of Economic Research, Inc.
  5. Bogart, William T. & Cromwell, Brian A., 2000. "How Much Is a Neighborhood School Worth?," Journal of Urban Economics, Elsevier, vol. 47(2), pages 280-305, March.
  6. Jesse M. Rothstein, 2006. "Good Principals or Good Peers? Parental Valuation of School Characteristics, Tiebout Equilibrium, and the Incentive Effects of Competition among Jurisdictions," American Economic Review, American Economic Association, vol. 96(4), pages 1333-1350, September.
  7. 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.
  8. Bogart, William T. & Cromwell, Brian A., 1997. "How Much More is a Good School District Worth?," National Tax Journal, National Tax Association, vol. 50(2), pages 215-32, June.
  9. Dennis Epple & Richard Romano, 2000. "Neighborhood Schools, Choice, and the Distribution of Educational Benefits," NBER Working Papers 7850, National Bureau of Economic Research, Inc.
  10. David N. Figlio & Maurice E. Lucas, 2000. "What's in a Grade? School Report Cards and House Prices," NBER Working Papers 8019, National Bureau of Economic Research, Inc.
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Cited by:
  1. Machin, Stephen & Salvanes, Kjell G., 2010. "Valuing School Quality via a School Choice Reform," IZA Discussion Papers 4719, Institute for the Study of Labor (IZA).
  2. Steve Gibbons & Stephen Machin & Olmo Silva, 2009. "Valuing School Quality Using Boundary Discontinuities," SERC Discussion Papers 0018, Spatial Economics Research Centre, LSE.
  3. Theodore M. Crone, 2006. "Capitalization of the quality of local public schools: what do home buyers value?," Working Papers 06-15, Federal Reserve Bank of Philadelphia.
  4. Joëlle Noailly & Suncica Vujic & Ali Aouragh, 2009. "The effects of competition on the quality of primary schools in the Netherlands," CPB Discussion Paper 120, CPB Netherlands Bureau for Economic Policy Analysis.
  5. Robert Bifulco & Helen F. Ladd & Stephen Ross, 2007. "Public School Choice and Integration: Evidence from Durham, North Carolina," Working papers 2007-41, University of Connecticut, Department of Economics, revised Jun 2008.
  6. Yadavalli, Anita P. & Florax, Raymond J.G.M., 2013. "The Effect of School Quality on House Prices: A Meta-Regression Analysis," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 151291, Agricultural and Applied Economics Association.
  7. Stephen B. Billings & David J. Deming & Jonah E. Rockoff, 2012. "School Segregation, Educational Attainment and Crime: Evidence from the end of busing in Charlotte-Mecklenburg," NBER Working Papers 18487, National Bureau of Economic Research, Inc.
  8. John Glen & Joseph G. Nellis, 2010. "“The Price You Pay”: The Impact of State-Funded Secondary School Performance on Residential Property Values in England," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 57(4), pages 405-428, December.
  9. Stephen Gibbons & Stephen Machin, 2008. "Valuing school quality, better transport, and lower crime: evidence from house prices," Oxford Review of Economic Policy, Oxford University Press, vol. 24(1), pages 99-119, spring.
  10. Fredrik Carlsen & Jørn Rattsø & Bjørg Langset & Lasse Stambøl, 2006. "Using survey data to study capitalization of local public services," Working Paper Series 8106, Department of Economics, Norwegian University of Science and Technology.

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