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Title
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School Quality and the Cost of Housing
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Creator
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Liu, Manyun
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Date
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2017-05-01T
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Date Available
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2017-05-01
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Date Issued
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2017
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uri
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http://collections.southwestern.edu/s/suscholar/item/85
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Abstract
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By exploiting three rich data sets on unit and neighborhood characteristics of both rental and owner-occupied units as well as nearby school quality, this paper examines the effect of school quality on neighborhood housing prices across the United States using a hedonic regression model. The results presented here confirm previous findings that school quality contributes positively to housing costs and housing values. The results suggest that an one standard deviation increase in the fraction of local elementary school students who are considered proficient on state level assessment exams leads to a 2.34 percent increase in median home values and a smaller, 0.84 percent, increase in median rents. While surrounding literature exhibits mixed findings regarding adequate measurements of school quality, the results of this study suggests that compared to input variables, such as free or reduced lunch participating rates and student teacher ratios, the output measures of test scores have a larger and more significant effect on the price of housing.
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Language
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English
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Subject
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Cost of housing
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School quality
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Type
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Thesis
