Title

Capitalization of Charter Schools into Residential Property Values

Abstract

Although prior research has found clear impacts of schools and school quality on property values, little is known about whether charter schools have similar effects. Using sale price data for residential properties in Los Angeles County from 2008 to 2011 we estimate the neighborhood level impact of charter schools on housing prices. Using an identification strategy that relies on census-block fixed effects and variation in charter penetration over time, we find little evidence that the availability of a charter school affects housing prices on average. We do find, however, that when restricting to districts other than Los Angeles Unified and counting only charter schools located in the same school district as the household, housing prices fall in response to an increase in nearby charter penetration.

Publisher

Massachusetts Institute of Technology Press

Publication Date

Winter 11-1-2017

Publication Title

Education Finance and Policy

Department

Economics

Document Type

Article

DOI

10.1162/EDFP_a_00192

Language

English

Format

text

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