Homes Near Good L.A. Schools Can Cost $300,000 More
Buying a home in L.A. is already nuts as it is. It takes a median family income of $73,210 -- more than what 65 percent of American households take in -- to qualify for a median-priced, $380,890 residence in the market. And take a look at those $380,890 winners out there. Not exactly mansions
In other words, you're screwed. And now there's this. If you want to own a place near a top-ranked public school in the L.A. market, you'll have to fork over an extra $300,000, according to a new report from online real estate firm Redfin:
Even with that exorbitant cover charge to get your offspring into a decent school, L.A. did not rank as the most expensive place in the nation for good-school-adjacent real estate.
We were beat out by No. 1 San Jose and second-ranked San Francisco.
According to Redfin:
Coastal California leads the way in terms of cost, with homes in the highest-ranking school zones running from $300,000 more in Los Angeles to nearly $500,000 more in San Jose.
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Redfin says it looked at Onboard Informatics and GreatSchools elementary campus data and compared it with homes sold nationwide between May 1 and July 31.
It did find some bargains. For the L.A. area you might have to move to ... Buena Park. There you'll find a roughly $423,000 home near the well-regarded Dysinger Elementary School.
Of course, you'd have to live in O.C.'s Buena Park. The alternative would be to do what many already are: Put off procreation.
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