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.
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RYE HOME VALUE APPRECIATION 2009-2015
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Year
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Average Sale Price
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Sales Volume
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Price Per Square Foot
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2009
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$1,483,544
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$157,255,660
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$536
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2010
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$1,524,825
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$230,248,550
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$535
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2011
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$1,748,806
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$230,842,367
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$553
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2012
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$1,925,247
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$294,562,749
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$569
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2013
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$1,989,515
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$346,175,636
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$605
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2014
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$2,006,480
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$280,907,263
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$655
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2015
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$1,928,781
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$30,860,500
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$681
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Totals:
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+$445,237
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+$123,651,603
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+ 145
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Compare Scarsdale 2015 PPSF
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$550
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Compare Harrison 2015 PPSF
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$429
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Compare Chappaqua 2015 PPSF
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$344
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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).
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Friends Of Rye City School District
Dedicated to the excellence & fiscal responsibility of Rye City Schools
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