What's Hot: Mortgage Rates Fall Towards 6% Following Fed Cut
The Cost of a Good School in DC
✉️ Want to forward this article? Click here.
Getting their children into a high-performing DC public school is the primary concern for most parents in this city. Because schools are often tied to the socio-economic status of the neighborhoods where they’re located, to get into a good school, residents often have to move to areas with higher housing costs.
A post by the District of Columbia’s Office of Revenue Analysis has plotted the median costs of three-bedroom homes in neighborhoods with high performing schools to give a clearer answer to the common question: How much do I need to spend to get my child into a good school?
The Office found that “a typical three-bedroom home in the attendance zone of a DCPS elementary school with the very top test scores – places where 80 percent or more students are proficient or advanced in reading – will cost over $800,000.” The analysis chose to focus on three-bedroom homes because they are more likely to be attractive to families.
As expected, most of the top-tier schools are in the District’s northwest quadrant. Ross Elementary School, for instance, is located in Dupont Circle. The average price of a three-bedroom here is over $1.4 million. The other Tier 1 schools in the top five are John Eaton Elementary ($1.062 million) in Cleveland Park and Thomson Elementary ($1.02 million) near Thomas Circle.
Going down a tier doesn’t offer much relief.
Tier 2 schools, where between 60 and 80 percent of students perform well, have median prices between $600,000 to over $1 million for three-bedrooms. In fact, it’s not until the third tier that homes become more affordable, with some below $650,000.
See other articles related to: home prices, office of revenue analysis
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/the_cost_of_moving_for_a_good_school/10143.
Most Popular... This Week • Last 30 Days • Ever
A plan to add another new residential building to the Friendship Heights pipeline is ... read »
Mortgage rate buydowns can be a good option for buyers who want to save money on inte... read »
Plans filed this week provide the latest look at the 106-key hotel in the works at an... read »
The eight-bedroom, 35,000 square-foot home in McLean known as The Cliffs went under c... read »
The large new development would take the place of the Ballston One office building al... read »
- Donohoe Files PUD For 127-Unit Development in Friendship Heights
- How Does a Mortgage Rate Buydown Work?
- A Look At Georgetown's New 100-Key Hotel Along The Canal
- A $30 Million Sale? One Of The DC Area's Most Expensive Homes Finds A Buyer
- Updated Plans Filed For 328-Unit Development At Arlington Office Site
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro