Close

Alex Handley

RE/MAX Preferred Homes
< BACK Subscribe

Homes Not Affordable for Average Wage Earners in 65 Percent of Zip Codes with Good Schools

November 24th, 2015


From RealtyTrac.com:  RealtyTrac analyzed school test scores for nearly 27,000 elementary schools in more than 7,200 U.S. zip codes, along with home price affordability in those same zip codes.

Out of 1,823 zip codes with at least one good school, 1,192 (65 percent) were unaffordable for average wage earners — meaning average wage earners would need to spend more than one-third of their income to buy a median-priced home.

In zip codes with at least one good school, the median home price was nearly double the median home price in zip codes with no good schools. The median sales price in 2015 for homes in zips with good schools was $411,573 on average, 95 percent higher than the median home sales price in zip codes without any good schools ($210,662).

What does it take to afford a home in some of the top-rated school districts in the nation?  Look at the full article here to see a breakdown by state.


Join the discussion

To post a comment on this blog post, you must be an HAR Account subscriber, or a member of HAR. If you are an HAR Account subscriber or a member of HAR, please click here to login. If you would like to create an HAR Account account, please click here.

Login to Comment
Disclaimer : The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the Houston Association of REALTORS®

Join My Blog

Subscribe to my blog for the latest in real estate news and analysis of the Houston/Cypress/Tomball market. I am a licensed real estate agent with RE/MAX Preferred Homes.
RE/MAX Preferred Homes
20467 Cypresswood Dr Suite A, Cypress, TX 77433   Get Directions
Phone: (281) 373-4300
Fax: (281) 373-4345
  • Archive
    •     2024
    •     2023
    •     2022
    •     2020
    •     2019
    •     2018
    •     2017
    •     2016
    •     2015
    •     2014
    •     2013
    •     2012
    •     2011
    •     2010