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Education and Nonmetropolitan Income Growth In the South

Author

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  • Henry, Mark
  • Barkley, David L.
  • Li, Haizhen

Abstract

This study estimates the impact of school quality on property values within the city limits of Greenville, South Carolina. This study differs from others in its use of a relative, rather that an absolute measure of school quality. We apply a hedonic pricing model to estimate the impact of K-12 rankings on the real constant-quality housing values. Based on 3,731 housing transactions carried out from 1994 to 2000, our results suggest that those who choose to live within the city limits of the study pay a premium to live in high quality school attendance areas. Therefore, high-ranked schools have values capitalized into single-family house prices. Further, greater distance to assigned K-12 schools has a negative impact on the value of the property.

Suggested Citation

  • Henry, Mark & Barkley, David L. & Li, Haizhen, 2003. "Education and Nonmetropolitan Income Growth In the South," Working Papers 187462, Clemson University, Department of Agricultural and Applied Economics.
    • Handle: RePEc:ags:cuaewp:187462
    DOI: 10.22004/ag.econ.187462
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    File URL: https://ageconsearch.umn.edu/record/187462/files/wp061203.pdf
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    References listed on IDEAS

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    1. Clotfelter, Charles T, 1975. "The Effect of School Desegregation on Housing Prices," The Review of Economics and Statistics, MIT Press, vol. 57(4), pages 446-451, November.
    2. Kathy J. Hayes & Lori L. Taylor, 1996. "Neighborhood school characteristics: what signals quality to homebuyers?," Economic and Financial Policy Review, Federal Reserve Bank of Dallas, issue Q IV, pages 2-9.
    3. Espey, Molly & Owusu-Edusei, Kwame, 2001. "Neighborhood Parks And Residential Property Values In Greenville, South Carolina," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 33(3), pages 1-6, December.
    4. David M. Brasington, 2000. "Demand and Supply of Public School Quality in Metropolitan Areas: The Role of Private Schools," Journal of Regional Science, Wiley Blackwell, vol. 40(3), pages 583-605, August.
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    Cited by:

    1. Gilbertson, David & Herron, Terri, 2014. "Including audit regulation in the accounting curriculum," Research in Accounting Regulation, Elsevier, vol. 26(1), pages 118-131.

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