An Empirical Study Focused on the Causal Relationship Between School Quality and Housing Prices in Suburban Communities in the Columbus Metropolitan Area

The purpose of this paper is to examine whether school quality has an impact on the price of housing in suburban communities. Individual residential sales in Franklin County, Ohio for 2012 and 2013 are used to analyze the effect of school quality using regression analysis. A spaital interaction variable is included to show the effect of surrounding communities on housing prices. The results determine that performance index has the largest impact on housing prices, however the value added measure may be the most appropriate measure due to of its relationship with the spatial interaction measure