Abstract
This paper provides further evidence on the relationship between public schools and housing values. Drawing on data from the Los Angeles and San Francisco areas, the paper presents estimates of an Oates‐type model of community housing values. Included in the model are measures of both student achievement and racial composition. The quality of public schooling, as measured by reading achievement, is found to be a strong, statistically significant determinant of community housing values, independent of student racial mix or socioeconomic background. Estimates of the model suggest that changes in achievement scores have substantial impacts on community housing values.
Published Version
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