64.9 F
Rye
Tuesday, December 6, 2022
Home Schools Supporting Schools Helps Home Values, Says Friends of Rye City School District

Supporting Schools Helps Home Values, Says Friends of Rye City School District

Saying "there is no factor more important to home values than school quality", Friends of Rye City School District has published a table showing rising some values in Rye City. Price per square foot home values in Rye City are $681, substantially higher than Scarsdale, Harrison and Chappaqua.

 
RYE HOME VALUE APPRECIATION 2009-2015
 
Year
Average Sale Price
Sales Volume
Price Per Square Foot
2009
$1,483,544
$157,255,660
$536
2010
$1,524,825
$230,248,550
$535
2011
$1,748,806
$230,842,367
$553
2012
$1,925,247
$294,562,749
$569
2013
$1,989,515
$346,175,636
$605
2014
$2,006,480
$280,907,263
$655
2015
$1,928,781
$30,860,500
$681
 
Totals:
 
 
+$445,237
 
+$123,651,603
 
+ 145
Compare Scarsdale 2015 PPSF
$550
Compare Harrison 2015 PPSF
$429
Compare Chappaqua 2015 PPSF
$344
 
In 2009, a 3000sf Rye house was worth             $1,608,000.00
In 2015, a 3000sf Rye house is worth                 $2,043,000.00
                                                                                +$435,000.00
 
Compare a 3000sf Chappaqua house now  @ $344psf or   $1,032,000.00
Compare a 3000sf Harrison house now       @ $429psf or   $1,287,000.00
Compare a 3000sf Scarsdale house now    @ $550psf or    $1,650,000.00
Compare a 3000sf Rye house now               @ 681psf or     $2,043,000.00
 
There is no factor more important to home values than school quality.
(See e.g., Nonlinear Effects of School Quality on House Prices,Abbigail J. Chiodo, Ruben Hernandez-Murillo and Michael T. Owyang, Federal Reserve Bank of St. Louis Review, May/June 2010, 92(3) pp. 185-204).
 
Friends Of Rye City School District
Dedicated to the excellence & fiscal responsibility of Rye City Schools

LEAVE A REPLY

Please enter your comment!
Please enter your name here