The high cost of education begins long before kids start college, a new study shows.
When parents look for a home to set down roots, they often seek the best public school districts. Those homes tend to cost more, nearly $300,000 more on average, according to children’s equipment manufacturer Chicco which analyzed Zillow home values with Niche’s rankings of best school districts across the U.S.
The average U.S. home value is $353,748 while the average for the best district in every state is 86% higher at $651,662, the study said.
It’s interesting “how strong the correlation between home values and school ratings is across the country,” said Kyle Beierlein, who works as a research assistant with digital marketing firm GoFish on behalf of Chicco. “The significant increase is found from coast to coast.”
Which states have the highest premiums to live near their top school?
The top five states with the steepest premium to live in their top school district, according to Chicco, are:
- Texas – You’ll have to pay 486% more to dwell in the Eanes Independent School District in Austin. The average Texas home fetches around $293,824, but homes in the Eanes District on average are $1,721,835.
- Missouri – Ladue School District in St. Louis commands a 346% increase from the state average of $234,834 — to $1,047,091.
- Connecticut – Westport School District homes go for about $1,630,823, 332% more than the state average of $377,247.
- California – Palo Alto Unified School District…
