Perceived school quality and its relationship with monetary housing value: School facility age and its association with housing sale price.

摘要

Schools are seen as an access of future opportunity for children. Consequently, school quality is often identified as a significant influence on housing choice and thereby monetary housing value. This cross-sectional study employs multivariate regression analysis to assess the relationship between school attributes on single-family housing values in the Orlando, Florida metropolitan area. The model includes facility age as a measure of perceived school quality, along with a series of control variables, to assess the relationship between public school facility age and the corresponding housing values within the associated school attendance zone. The key findings demonstrate that there is a relationship between school attributes, including age, on single-family housing values in the sample. It was found that facility age correlated with housing sale price, with both newer and historic school facilities being positively associated with monetary housing value. These findings are intended to aid community development and urban revitalization policy discourse. The implication is that if communities invest in new schools, or renovate schools in older communities, then this could aid in community development initiatives and urban revitalization efforts in those neighborhoods.