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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. 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.
  2. 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.
  3. Sandra E. Black, 1997. "Do better schools matter? Parental valuation of elementary education," Research Paper 9729, Federal Reserve Bank of New York.
  4. 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.
  5. Dennis N. Epple & Richard Romano, 2003. "Neighborhood Schools, Choice, and the Distribution of Educational Benefits," NBER Chapters, in: The Economics of School Choice, pages 227-286 National Bureau of Economic Research, Inc.
  6. 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.
  7. 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.
  8. 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.
  9. 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.
  10. Patrick Bayer & Robert McMillan & Kim Rueben, 2004. "Residential Segregation in General Equilibrium," Working Papers 885, Economic Growth Center, Yale University.
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Cited by:
  1. Joëlle Noailly & Sunčica Vujić & Ali Aouragh, 2012. "The effects of competition on the quality of primary schools in the Netherlands," Environment and Planning A, Pion Ltd, London, vol. 44(9), pages 2153-2170, September.
  2. Robert Bifulco & Helen F. Ladd & Stephen Ross, 2008. "Public School Choice and Integration: Evidence from Durham, North Carolina," Center for Policy Research Working Papers 109, Center for Policy Research, Maxwell School, Syracuse University.
  3. 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.
  4. 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.
  5. Carlsen, Fredrik & Langset, Bjørg & Rattsø, Jørn & Stambøl, Lasse, 2009. "Using survey data to study capitalization of local public services," Regional Science and Urban Economics, Elsevier, vol. 39(6), pages 688-695, November.
  6. 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.
  7. Gibbons, Stephen & Machin, Stephen & Silva, Olmo, 2013. "Valuing school quality using boundary discontinuities," Journal of Urban Economics, Elsevier, vol. 75(C), pages 15-28.
  8. Stephen Machin & Kjell Salvanes, 2010. "Valuing school quality via school choice reform," LSE Research Online Documents on Economics 28286, London School of Economics and Political Science, LSE Library.
  9. 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.
  10. 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.

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