Business Briefing: Good school districts unaffordable to average wage earners

Where there is a school making the grade, chances are many afford to live in its district.

That’s the conclusion recently reached by the folks from online real estate tracker RealtyTrac, which examined the cost of living in a high-performing school district.

Their results revealed that out of 1,823 Zip codes with at least one good school, 1,192, or 65 percent, were unaffordable for the average wage earner. This meant that average wage earners would need to spend more than one-third of their income to afford a median-priced home in those districts.

RealtyTrac also reported that the average median sales price in 2015 for homes in Zip codes with good schools is $411,573, which is 95 percent higher than the average median home sales price in Zip codes without any good schools, which is $210,662.


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— Will Buss, BND business writer