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The Effect of School Quality on Residential Sales Price

  • Youngme Seo

    ()

    (Cleveland State University)

  • Robert A. Simons

    ()

    (Cleveland State University)

Registered author(s):

    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://pages.jh.edu/jrer/papers/pdf/past/vol31n03/03.307_328.pdf
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    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
    Contact details of provider: Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
    Web page: http://www.aresnet.org/
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    Order Information: Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
    Web: http://pages.jh.edu/jrer/about/get.htm Email:


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    1. 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.
    2. Sandra E. Black, 1997. "Do better schools matter? Parental valuation of elementary education," Research Paper 9729, Federal Reserve Bank of New York.
    3. David Brasington & Don Haurin, . "Educational Outcomes and House Values: A Test of the Value-Added Approach," Departmental Working Papers 2005-03, Department of Economics, Louisiana State University.
    4. 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.
    5. Downes, Thomas A. & Zabel, Jeffrey E., 2002. "The impact of school characteristics on house prices: Chicago 1987-1991," Journal of Urban Economics, Elsevier, vol. 52(1), pages 1-25, July.
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