Communities with good schools found to be the most unaffordable

Miami is a bright spot, with 20 affordable ZIP codes with good schools
  • In a new RealtyTrac analysis, Miami was one of the top five metros for a combination of affordable homes near good schools.
  • Twenty zip codes in the Miami area also have good schools plus affordable homes.
  • Out of 1,823 zip codes analyzed that had at least one good school, 1,181 of those zip codes, or 65 percent, were out of reach for the average wage earner.

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The results are in for a RealtyTrac analysis of the home affordability in communities with good schools, and the news is not good. But for parents in Miami, there is a good chance of buying a reasonably priced home in a neighborhood that is served by a good school. RealtyTrac used school test scores for nearly 27,000 elementary schools in more than 7,200 U.S. zip codes to determine what makes a “good school.” They then compared home price affordability in those same ZIP codes. Miami came in the top five metros with the winning combination of affordable ZIP codes with good schools, with 20. Leading the pack was Chicago, with 179. The rest of that pack is Detroit (44), Phoenix (22), and Charlotte (18). For the most part, the unaffordable districts are clustered around the West Coast, with a few scattered along the East Coast and Florida. The zip codes that fared best in this study are clustered inland. The big picture result was that out of 1,823 zip codes that had ...