How much is a Good School District Worth?

If resale value is important to you, buy a home in a quality school district. Study after study shows that not only do these homes hold their value better during down markets, but they are worth more than comparable homes in lower-rated school districts.

None of the studies I’ve read were conducted here in Minnesota, but the basic premise – that home values are higher in good school districts – is true nationwide.

In Florida, for instance, homes in what the state calls an “A” district are worth $50,000 more than comparable homes in districts with lower ratings. There’s no dollar amount on extra value placed on homes in Washington State’s Bellevue School District – the highest rated in the state. Studies conducted there claim that homes in that school district are worth, on average, 15 percent more than comparable homes in other school districts.

The National Association of Realtors did their own study of homebuyers, asking if they were willing to pay more for a home in a good school district. Over half of them said yes.

The best school district in Minnesota, according to SchoolDigger.com is Barnsville, followed by Mahtomedi and Edina.

When judging a school district based purely on test scores from elementary students, the results change. The top three districts using this criterion are Randolph, West Tonka and Edina, according to LocalSchoolDirectory.com. NeighborhoodScout claims that Deephaven is the top school district with Dellwood and Shorewood following.

As you can see, it isn’t easy to find our state’s top school districts. If quality schools are important to you in your search for a new home, check the ratings at GreatSchools.org and be willing to pay a bit more for a home in a district with top-performing schools.

Feel free to search for home listings by school district here on KrisLindahl.com. 

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