A report from the real estate news website RealtyTrac shows that the cost for U.S. homes in districts with the highest performing schools are generally well out of the reach of average wage earners.
The report looked at nearly 30,000 high-performing elementary schools in 7,200 zip codes across the country and found that in 65 percent of those districts, the median sales price for a home was $411,573.
The median costs of the homes would be considered unaffordable for the average wage earner because the cost of the mortgage would be more than one-third of their income, the story noted.
According to the study, the median sales price for a home in a district without a high-performing school is $210,662.
The schools were considered high-performing if 2014 test scores were at least one-third higher than the state average for test scores.
The story listed these areas with the least affordable zip codes in the highest-performing school districts:
- Los Angeles
- New York
- San Francisco
- Chicago
- San Diego
- Riverside-San Bernardino, Calif.
- Seattle
- Miami
- Denver
- Sacramento
- San Jose
Metro areas with the most affordable zip codes include:
- Chicago
- Detroit
- Phoenix
- Miami
- Charlotte, N.C.
- St. Louis
- Tampa
- Milwaukee
- Rochester, N.Y.
- Albany
- Nashville
- Buffalo
- Rockford, Ill.
- Grand Rapids, Mich.
- Kansas City
Click here to read the full story and to see inactive maps about which zip codes have the most and least affordable homes in the districts with high-performing schools.
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