Good schools are a hot commodity among home buyers. That’s nothing new. When shopping for a home, families have always put a premium on living in an area with good schools. But how much that premium costs has gone up. In fact, according to one recent analysis, the typical home in a highly rated school district costs $150,000 more than the typical home. That works out to $580,000 – 35 percent more than the $430,000 a median home currently costs. Of course, the actual price a buyer pays for a house in a good school district depends on the particular location, and a lot of other factors and amenities, including how common quality schools are in the area. But while areas with good schools are likely to be more expensive, that could mean an opportunity for buyers without children. After all, if good schools drive home prices higher, buyers who don’t require a good school district may be able to find a great house for a better price. (source)
