Calvin and Hobbes regularly confronted the public school system and particularly math. Although Calvin wanted to be excused from math we should not ignore this study.
The majority of people would agree that housing costs are higher in areas known to have highly rated school systems. Here in Houston the Memorial area is one such example with the lowest priced home coming in around half a million. However, how much of the home value equates to public education and is this difference similar to the cost of private education? If a family of five is living within an area known to have high housing costs and higher taxes could that same family live elsewhere and send their children to private school for the same or less cost? In addition could the city modify zoning laws specifically to help struggling school districts?
The study analyzed the 100 largest metropolitan areas around the country and found that housing costs average 2.4 times more ($10,707 per year) near high scoring public school systems. When compared to US median home values this equates to a home value increase of $205,000. The average size of the home within the higher scoring district contained 1.5 additional rooms and the number of rental properties/units was 30% lower.
We have known that the quality of public education is vastly unequal across income and racial/ethnic groups. There is countless debate as to the main causes. Studies have shown that placing low income children into high income area schools does actually increase their academic achievement. However, is this move worth the added cost when looking solely at education? The National Center for Education Statistics during the 2007-2008 school year places nationwide private education tuition for elementary and secondary students at $8,549. For private Catholic schools the cost drops to approximately $6000 per year. These values as stated are a nationwide average. When compared by region the Northeast has the biggest discrepancy showing that housing costs are 3.5 times higher in high scoring public school systems. In contrast Boise, Modesto, Madison, Little Rock, Honolulu, and parts of Utah and Florida exhibited the lowest ratios (1.3 - 1.6). Thus, it is clear that private education for elementary and secondary education costs less than the cost to move within a
Zoning laws also contribute to the general make-up of a city and their school districts. The study found that for larger metro areas with the least restrictive zoning requirements the gap in housing costs were 40-63 percentage points lower. More affluent sections of communities typically exhibit the most strict zoning laws preventing rental and multifamily housing units from being developed. These rental units house a large number of lower income families since they are unable to afford a home.
Communities have known for some time that maintaining deed restrictions combined with strict zoning laws preventing dense commercial and multifamily units will increase home values at a significant rate. They also significantly impact the quality of education, but as this study reveals the costs do not outweight sending your child to a private school. Saving money on housing costs and living in a less affluent area of town should be something people consider.
