For numerous homebuyers, the main consideration when looking for a neighborhood to live in is where their kids will go to school. As a result, constantly stellar schools usually go hand-in-hand with excessive home prices.
Locating a good school in a neighborhood that is affordable and has a steady job market is exceptionally hard. Yet, based on a recent report, there are many good schools situated in neighborhoods that are quite affordable.
A hand-picked number of these schools are situated in housing markets where usual mortgage payments cost no more than 15% of the local median household income. Based on these findings, these are the most affordable neighborhoods with the best schools.
North Pointe Elementary School-Hebron, KY
> House payment pct. median income: 14.44%
> Pct. above state test score avg.: 54%
> Avg. home price: $190,429
North Pointe Elementary is situated in Hebron, Kentucky, where a typical home costs under $190,000. Hebron home values are moderately high compared to the rest of the U.S. However, residents are very well-off. A normal mortgage payment was equivalent to 14.44% of the area’s projected median income of $100,209, one of the most affordable payments among cities reviewed.
Deerfield Elementary School-Utica, NY
> House payment pct. median income: 14.34%
> Pct. above state test score avg.: 62%
> Avg. home price: $79,197
Students scored over 60% higher on average at Deerfield Elementary than in the whole entire state of New York. While such a solid education might be worth a fortune to numerous parents, purchasing a property near the school is very inexpensive. According to research, the average home in the zip code, this part of the city of Utica, was a little over $78,000, with payments estimated at only 14.3% of a standard residents’ income.