Capitalization of Charter Schools into Residential Property Values

Scott Imberman, Michael Naretta and Margaret O’Rourke

No 20990, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: While 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 charter schools affect housing prices on average. However, we do find that when restricting to charter schools located in the same school district as the household, housing prices outside Los Angeles Unified School District fall in response to an increase in nearby charter penetration.

JEL-codes: H41 I21 I22 R21 (search for similar items in EconPapers)
Date: 2015-02
New Economics Papers: this item is included in nep-edu, nep-mfd and nep-ure
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Published as Margaret Brehm & Scott A. Imberman & Michael Naretta, 2017. "Capitalization of Charter Schools into Residential Property Values," Education Finance and Policy, MIT Press, vol. 12(1), pages 1-27, Winter.

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