Reporter- San Francisco Business Times
As home prices rocket throughout the Bay Area, the cities with the highest ranked school districts turn out to not necessarily be the most expensive.
ZipRealty compiled the top 10 Bay Area cities based on school score (Click on the image to see a slideshow).
The online brokerage firm calculates a school score range from zero to 10 with 10 being the highest based on test-score data and student/teacher ratios for every home listing on ZipRealty.com.
“School scores absolutely impact real estate values,” said Don Cruz Datanagan, a broker with ZipRealty who oversees the North and East Bay areas. “Homebuyers want the best education for their family and if it’s going to cost them a little extra money to be in the best school district, a lot of people are making that sacrifice.”
Last year, we published a similar list that was based on median price while this year’s list is based on the median price per square foot.
Most of the cities are in the East Bay with price-per-square-foot medians under $500. Only two cities, Piedmont at $581 and Palo Alto at $1,004 per square foot were above the $500 threshold.
Datanagan said one of the first questions homebuyers ask is, “How are the schools?” Often, however, prospective buyers have to weigh what they can afford with the quality of the school.
The relationship between home values and school rankings isn’t just relevant for parents, but for any homebuyer who wants to see their home appreciate in value, said Sarah Arnold, a realtor with Pacific Union who focuses on the East Bay.
“If buyers they don’t have kids, I’ll still them to get in the good school areas because the resale values are so high,” she said. “You have to think like an investor and about where you want to live.”
Blanca Torres covers East Bay real estate for the San Francisco Business Times.