School Performance Affects Real Estate Market Values
The 2014 Texas Academic Performance Report is now available and the data provided gives a nod towards the effect that school performance has on real estate market values. School administrators know that strong school performance metrics are vitally important to many residential real estate buyers with school age children. Those same metrics are also relevant to buyers who do not have school age children as the same uplifting market factors benefit them. Buyers that have school aged children enjoy the dual benefit of purchasing real property in areas that tend to have strong market values, and they benefit from having their children attend quality schools. Our Teachers and Administrators work hard to continually improve curriculum and strive to improve the entire educational experience so that the students of today become participatory and responsible members of society in the future.
The Big Picture – Texas
Not only is Texas geographically diverse, but it is also has a very diverse student population.Texas currently has 5,058,939 students enrolled in grades K-12. Educating that student body requires a total staff of 642,184 Teachers and Administrators. We have a statewide Student to Teacher ratio of 15.5 and an attendance rate of 95.9%. The average SAT score is 1422 while the average ACT score is 20.5.
The “Big-Three” School Districts in the Austin MSA include Austin, Round Rock and Leander.Together, they have an enrollment of 163,086 students. Student to Staff ratios range from a 14.6 to 15.4 with an average attendance rate of 95.9%. SAT scores ranged from 1496 to 1599, while ACT scores ranged from 21.4 to 24.These three districts combine to educate students in an area encompassing 526 square miles!
There are many other quality school districts within the Austin area and throughout the state. The TEA website is a great place to start if you are seeking more information about different districts and performance. I also encourage you to visit with individual school personnel. Reports are helpful and necessary, but they only tell part of the story.
A Rising Tide Raises All Boats
Having quality schools has a direct positive effect on local real estate values. Properties that are located in areas that include high performing schools will be more desirable and will command higher prices than similar properties that are located in areas with poorer performing schools.
The next time you run into a teacher or a school administrator, be sure to say; “thank you!”