Property values have long been associated with the quality of nearby schools, and buyers with children are looking to invest in areas with good public schools. But good schools can come with a high price tag for homes. HomeUnion's new study identified the nation's most affordable zip codes with the best public schools in the first quarter of 2016.
Homes in Blue Springs, Mo., have a median price of $143,000 and the schools have an average ranking in the 87.8th percentile by Maponics, making it the most affordable zip code with the best schools. The zip code 46060 in Noblesville, Ind., – a suburb of Indianapolis – ranked second with a median home price of $157,000 and an average ranking in the 84.5 percentile by Maponics. In the southwest corner of St. Louis, Mo., the median home price in the zip code 63126 is $160,000 and a high school ranking exceeding the 95.5th percentile by Maponics.
Miami, San Jose, Calif., and San Francisco all ranked poorly for affordability, with median home prices of $570,000, $590,000, $612,000 respectively, and schools that ranked in the lower 80th percentile.