Eug
Senior Member
Well, my neighbourhood is middle class, with a mix of upper middle class and lower middle class, and some lower class, but some higher-than-usual-upper-middle-class as well. These are rough classifications, but I'm basing this on < $40000 family income being lower class, $40000-60000 being lower middle class, $60000-85000 being middle income, $85000-125000 being upper middle class, and >$125000 being high income. (In nice areas of Toronto, I don't actually think of $125000 family income really being high income, but that's what some people have published, so I'm using that for this post.)It's interesting how we use the premise of school district to value homes and neighbourhoods, when in many cases IMO what we really want is to live amoungst successful, professional, educated and I dare say English-1st language caucasian folks with both the will and means to be house proud and take care of their property. This certainly describes nearly every real estate area I can think of in the city of Toronto where the "school district" is used to gauge high property values.
However, can you imagine telling a realtor that your top criteria is upper middle class folks. Instead we ask for a top school district.
http://www.cpso.on.ca/CPSO-Members/Peer-Assessment/The-Assessment
However, it is a very good school district, both for the public elementary school and the high school. The bigger mix of classes is for the high school, as the public elementary school is more middle class to upper middle class, with some high income. The elementary school is top 15%, with an average parental income of $117000, so its good FI score doesn't come as a huge surprise. However, the high school is top 10-11%, with an average parental income of only about half the elementary school's. ie. Average less than $60000, because the catchment area is much larger..
OTOH, across the street (same street in fact), the high school is at the BOTTOM 15%, and the income is similar, only about a 5% difference. Just as importantly, it's also known as a rough school.
So I'd say investigation of the school district is extremely important here. As mentioned earlier, if I lived across the street, I'd consider sending my kids to private school. Thus, that would factor into home pricing for many people.
Where do you see mention of those adjustments? Maybe I am mistaken, but my understanding is that Fraser Institute doesn't raise or lower scores based on income. It does list expected scores based on income, but nowhere do I see on their site that those expected scores are actually factored into the actual score.As un-PC as your statement may come across, I have to say that it has merit. I've discussed this "school district" to "real estate" issue ad nauseam with many people and what we've concluded, and what we've all also noted here in this thread, is that it isn't really the school, per se, that is "better" but the kids in those neighborhoods who happen to go to those schools.
The interesting thing about the Fraser Institute scores, however, is that it applies adjustment factors based on expected academic scores in relation to household income. This lowers the school's score in higher income neighborhoods and raises them in lower income neighborhoods. What I've found to be most interesting is that parents in the wealthier neighborhoods don't care as much about where "their" school ranks in comparison to parents in the lower income neighborhoods who are more inclined to talk about how high their neighborhood school ranked in the study. All of this is anecdotal, of course.
I guess what I would surmise is that parents will always look at the figures which best serve them. In higher income neighborhoods, they will say that their kids will be in good company with other well-to-do families and be educated in a highly-enriching academic environment. In lower income neighborhoods, they will say that their kids will be in a school highly ranked by the Frasier Institute and that they will receive a highly ranked education, as a result.
I don't know...am I being un-PC?
Anyhoo, most (but not all) upper middle class neighbourhoods have well rated high schools. However, it becomes more critical when you're talking neighbourhoods with less money. The school district question here can make or break a home sale.
To be honest, when I bought, I wasn't thinking along these lines, because we didn't have kids and weren't sure we would have kids. However, if I was buying in this neighbourhood today, the bottom line is I would not likely buy a house across the street in the other school district, despite the fact there are some nice houses there, unless it was way cheaper.