Parents are willing to pay more for their kids to attend good schools. In some cases, quality of education is #1 on the list of criteria for buyers looking to invest in real estate. While water views, location, and attractive floorplan are important contributors to market price, a respectable school district might be the most substantial indicator of value and buyer demand. Marin County is no exception to this rule.
Let’s take an example that’s close to home. The Narodny Team just sold a home in San Rafael for $1,800,000. Take the same house, same flat street, same views, same ammenities, and give it a Kentfield address. The house would sell for $2,700,000+. Why? According to the Academic Performance Index, an organization that measures academic performance on multiple levels, Kentfield Schools all ranked above a 950/1000 and a 10/10 CA rank, putting them amongst the top 10% best schools in the state. The same goes for schools in Mill Valley, Tiburon, Larkspur, Corte Madera, San Anselmo, and Ross. While most San Rafael schools received great scores of 7, 8 or 9, they are unimpressive when juxtaposed with Kentfield’s (or the rest of Central/Southern Marin’s) reputation.
For San Francisco residents, the choice is easy. Stay in the city and pay 20-40K per child in tuition for private schools or move across the bridge and receive comparable free education. It’s the same story in other north, east, and south bay counties. Parents are paying up for their kids to go to our schools, and keeping property values high as a result.
IJ article about Marin County Schools: http://www.marinij.com/ci_20861105/marin-schools-shine-state-rankings