RealtyTrac: 65% of ZIP codes with good schools are unaffordable

  • Nearly two thirds (65 percent) of ZIP codes with good schools are unaffordable for average wage-earners.
  • In ZIP codes with at least one good school, the median home price is nearly double the median home price in ZIP codes with no good schools.

RealtyTrac released a report today showing that nearly two thirds (65 percent) of ZIP codes with good elementary schools are unaffordable for homebuyers on the average wage. Average wage-earners would need to spend more than one-third of their income to buy a median-priced home.