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Only 1 in 3 Can Afford to Buy in Zip Codes With Good Schools

Thursday, November 19, 2015

Is the dream of a decent education gone for the children of middle-class Americans?  A new study by RealtyTrac indicates that if you consider standardized test scores a realistic measure of a good education, that dream might be on life support.

RealtyTrac looked at school test scores for nearly 27,000 elementary schools in more than 7,200 U.S. zip codes, analyzing them in conjunction with data on home price affordability.     Out of 1,823 zip codes with at least one good school, RealtyTrac found that 1,181 or 65 percent would be out of reach price-wise for average wage earners. RealtyTrac defined this by a need to spend more than a third of household income in order to purchase a median-priced home.

 

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