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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
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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