In the housing market, it’s about location and in location, it’s about schools.
Yes, there are exceptions, but home values time and again correlate with the desirability of the neighborhood school or the local educational system. Even in an area like metro Atlanta where a lot of people have typically sent their kids to private schools.
Atlanta’s growth has meant a lot more people relying on public schools these past few decades, which has meant a surge of interest – and higher prices – in the “good” districts.
Even buyers without kids see near a "well-ranked school" as a tide that will help home values faster than other areas, said Jeanette Schneider, senior vice president for RE/MAX of Georgia. "Purchasing a home near a high-ranking school is almost always at the top of buyer wish lists."
But not all “good” is created equal, argues RE/MAX.
In a report this week, RE/MAX takes a look at high school rankings and the home values in those areas and concludes that some are still relatively affordable.
Their top five are the districts for:
1. Decatur High School in Decatur – number 13th-ranked school in the state, a median sale price of $192,695.
2. Duluth’s North View High – school ranked 11 in Georgia, a median sale price of $285,000.
3. Marietta’s Walton High – ranked 10th, a median sales price of $288,500.
4. Suwanee’s North Gwinnett High – ranked 8th, median sales price of $385,000.
5. Alpharetta and its high schools, Alpharetta High (ranked 6th), Milton High (7th), Chattahoochee High (9th), with a media home price of $412,000.
Of course, their rankings depend on the credibility of U.S. News & World Report, which compiles that list. And the RE/MAX view of affordability is relative. (Your mileage may vary. So may your ability to get a mortgage.)
Suwanee and Alpharetta are more for move-up buyers, RE/MAX acknowledges. Or one “looking for a solid long-term investment.”
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