Cities with top schools sometimes see highest prices

When moving, many families choose their future home based off nearby schools and education opportunities. That line of decision-making can drive up median list prices on homes in the top-ranked school districts - sometimes by more than 20 percent, say some brokers.

"Without a doubt the 'right' school district increases value by 12 to 14 percent in my area even in today's market," New Jersey real estate agent Maria Picardi-Kenyon told Move, Inc. "I've spoken with many clients who are convinced that a preferred school district provides as much as 20 percent or more value to a home."

Intent on sending their children to the best schools, some families even insist on moving into an apartment while they wait for homes in the area to become available, said Illinois broker Nina Rocus.

For instance, with an Education Quality Score of 96.56, Mason, Ohio, ranked the highest on Forbes Magazine's list of top schools in cities with median home prices under $200,000. Homes there are listed for a median of $189,500 - significantly higher than the state median list price of $135,9000.


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