I’ve said it a million times and I’ll keep saying it. “Real estate values are almost always tied to the performance of the local school districts.” At least in relationship to like communities around any city. Kansas and Missouri both did really well. The Olathe school district did remarkably well compared to the local and national averages. Read more here.
The Kansas City real estate market, at least regionally, has fared pretty well. Kansas City has a joke of a school district. Guess where there real estate values have gone. On the Kansas side we have the Shawnee Mission, Blue Valley and Olathe School Districts here in Overland Park, Olathe, Lenexa, Prairie Village, etc and guess how those real estate values have held up. Why? Because people who care, who have children, who are wage earners tend to want to live where there are quality schools. They don’t abandon their homes at the first sign of macro economic trouble because there are emotional and practical reasons to stay put.
I haven’t done the research, but I would not be shocked to find out a few of the suburban Missouri school districts have done rather well, too. And I’m not saying that if you are a parent and live in a different school district that you aren’t caring. I’m just simply speaking on a trend that tends to show itself over and over again.
Real estate is about location, location & location. School districts can help define if it’s a good location or a bad one.