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Where Are the Best Places for Families to Live Based on Quality Schools and Home Prices?

School Bus

When purchasing a home, one of the most important factors to consider is neighborhood school quality. Home values increase when they’re near quality schools, so savvy buyers typically search for properties near highly ranked public schools to build long-term equity, according to HomeUnion® Research Services.

To assist home buyers in finding great real estate values, HomeUnion® analyzed neighborhoods with the most affordable homes and highest-ranked public schools. If home buyers target these zip codes when purchasing assets, their property values could likely increase faster than any other homeowner in their metro area, says Steve Hovland, director of research for HomeUnion®.

In May, the National Bureau of Economic Research found that for every dollar spent on public schools in a community, home values increased $20. The study goes on to claim that “additional school expenditures may benefit everyone in the community, whether or not those residents actually have children in the local public school system.”

In an effort to provide buyers with insight on affordability and school quality, HomeUnion® analyzed its own website data, as well as data from Maponics, to create a list of the best housing markets for families. “It’s our hope that this information will assist home buyers, who are either looking to invest remotely or raise a family in their home, in finding the highest values for their properties,” explains Steve Hovland, director of research for HomeUnion®.

In 1Q 2017, a zip code in Kansas City topped the affordability list with a median home price of $159,700, while a zip code in San Francisco rounded out the bottom of the list with a median price in excess of $1 million.

Here is the list of the 30 best places for families based on housing affordability and school quality:

MetroStateSubmarketZip CodeSchoolsPrice
Kansas CityMOBlue Springs, Mo.6401488.5$159,700
Oklahoma CityOKTuttle, Okla.7317089.6$165,000
St. LouisMOFenton, Mo.6302681.1$167,000
Palm Beach, Fla.FLBoca Raton, Fla.3349687.9$167,500
ChicagoILAurora, Ill.6050381.9$168,000
IndianapolisINBrownsburg, Ind.4611286.3$184,100
ClevelandOHBroadview Heights, Ohio4414787.1$200,00
PhiladelphiaPAHorsham, Pa.1904484.2$217,500
AtlantaGABuford, Ga.3051986.5$220,00
ColumbusOHPowell, Ohio4306586.1$229,500
HoustonTXKaty, Texas7745081.2$239,500
PittsburghPACranberry Township, Pa.1606683.9$274,000
Las VegasNVSummerlin neighborhood8914481.9$295,000
Jacksonville, Fla.FLSt. John’s, Fla.3225981.6$297,000
San AntonioTXCross Mountain, Texas7825585.2$317,100
Sacramento, Calif.CARocklin, Calif.9567781.5$330,500
Charlotte, N.C.NCMatthews, N.C.2810487.7$336,500
NashvilleTNThompson’s Station, Tenn.3717990.3$372,500
AustinTXWilliamson, Texas7871784.9$375,000
DenverCOCentennial, Colo.8012283.3$380,000
Portland, Ore.ORLake Oswego, Ore.9703587.9$417,500
Los AngelesCAValencia, Calif.9135582.3$480,000
SeattleWANorth Bend, Wash.9804583.3$510,000
San DiegoCACarmel Mountain Ranch9212889.7$515,000
Washington, D.C.MDMt. Airy, MD2177182.1$529,500
Fort Lauderdale, Fla.FLWeston, Fla.3333293.3$567,100
Orange CountyCAUniversity Park9261288.6$579,000
Oakland, Calif.CAWalnut Creek9459694.8$625,000
San JoseCAWest San Jose9513080.5$799,000
San FranciscoCASan Anselmo, Calif.9496086.9$1,035,000

 

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Nathan Jun 1 2017 - 7:32 AM
It's great to see two Missouri cities on your list, except you have St. Louis listed as IL.
    Alisha Chocha Jun 1 2017 - 2:11 PM
    Hi Nathan, Thank you. We updated. Thanks for the feedback! Alisha at HomeUnion®
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