School Quality and Affordable Housing in Charlotte, NC:

Description:

Among the most critical choices that an individual makes when purchasing a home is selecting the location of a residence. There are many factors that are considered when looking for a residence. While proximity to work and a short commute are desirable, significant literature shows that households with children or planning to have children often focus on the quality of schools their children will attend. Therefore, a neighborhood with a reputation for high quality schools will be a much more desirable location. Since school quality can determine which neighborhoods are most attractive to potential homebuyers, real estate market impacts can be expected. Within this framework, neighborhoods with high quality schools exhibit higher prices than other neighborhoods where schools are less desirable. One potential outcome of the school and housing choice process is the number of affordable housing units in a neighborhood. Those with highly valued schools are rationed by pricing structures.