Tag Archives: affordable homes

Money Monday: The housing affordability for good schools

For many in California, homes are not economically affordable in good-school areas.

“RealtyTrac analyzed school test scores for nearly 27,000 elementary schools in more than 7,200 U.S. zip codes, along with home price affordability in those same zip codes.” (RealtyTrac. http://www.realtytrac.com/news/home-prices-and-sales/realtytrac-2015-good-schools-and-affordable-homes/). Then they took a look at those zip codes with good schools; “‘good’ is defined as schools that post higher-than-average test scores for their given state” (http://money.cnn.com/2015/11/19/real_estate/neighborhoods-good-schools-affordable/index.html?section=money_realestate). In the 1,823 zip codes with at least one good school, they found that 65% (1,192 zip codes) were unaffordable for those with average incomes for the area, meaning that they would have to spend more than one-third of their income on housing.

For those in the San Diego – Carlsbad areas, the good school that RealtyTrac analyzed was Einstein Academy (with a 1.37 test score in 2014), and the relational zip code being 92102. At an average sales price of $320,000, homeowners spend an average of 40% of their income on housing.

San Diego Carlsbad sales price and test score

RealtyTrac’s Most Affordable Good-School Zips by Metro map, focused in on San Diego.

If you are interested in reading more on this, go to RealtyTrac’s article on the information they found here: www.realtytrac.com/news/home-prices-and-sales/realtytrac-2015-good-schools-and-affordable-homes.