Buying a home is one of the biggest financial decisions of your life. Falling home prices have created great opportunities, but more homes on the market can be overwhelming—how do you know where to begin?
By studying Trulia's proprietary data, information on over 2 million homes and newly launched education rankings on 125,000 schools across the country, Trulia found that despite the economic downturn in the real estate market, homes with highly-rated local schools across the nation generally maintain or increase in value.
What does this mean for you? Even in an uncertain economy, there are still areas throughout the country where you can purchase a home with confidence that it will maintain or grow in value. You can "recession-proof" your home purchase by buying where there are great local schools nearby.
Did your city make the list? Our study found several cities in major metropolitan areas where bargains can still be found and the public, elementary school education is top notch. We searched for the best combination of value and local elementary education in the given markets. In the nine graphics below, we've identified cities within 50 miles of the urban center that we named "educational value" cities.
Didn't make the cut? We chose nine cities throughout the country, but there are more possibilities out there waiting to be uncovered. If you are looking to make your purchase recession proof, check out school ratings and list prices for your target market on our Real Estate Guides
Study methodology
The Trulia education study included local opinions from Trulia Voices, prices for more than 2 million homes listed on Trulia.com, and newly launched education data on Trulia.com for over 125,000 schools and 14,000 school districts. City selection was limited to areas that were 50 miles or less from the urban center, median list home prices increased year-over-year from March 2007 to March 2008 and where elementary schools received an education rating of 9 or higher on a 10 point scale, based on standardized test scores as reported by each state's Department of Education.
Check out the press release here
Disclaimer:
Education ratings are based on standardized test scores reported by the Department of Education in each state. Ratings should not be compared across states, as each state has different tests and standards for measuring student proficiency. Other factors should be considered when comparing schools, including teacher experience, academic programs, extracurricular activities, special needs education, etc. We encourage you to visit schools directly to confirm enrollment eligibility and learn more about the resources that may be available.
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