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The Impact of School District Consolidation on Housing Prices

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  • Hu, Yue
  • Yinger, John

Abstract

This paper estimates the capitalization of school district consolidation into housing prices in New York State between 1990 and 2000. We utilize first differencing and 2SLS to account for district heterogeneity and possible endogeneity of the consolidation decision. We find that consolidation boosted house values and rents by about 25 percent in very small school districts and that this effect declines with district enrollment, as expected based on economies of size. Consolidation has no impact on housing prices in districts with more than about 1,700 pupils. The impact of consolidation on housing prices declines with tract house value and rent and is negative in the highest–price tracts.

Suggested Citation

  • Hu, Yue & Yinger, John, 2008. "The Impact of School District Consolidation on Housing Prices," National Tax Journal, National Tax Association;National Tax Journal, vol. 61(4), pages 609-633, December.
    • Handle: RePEc:ntj:journl:v:61:y:2008:i:4:p:609-33
    DOI: 10.17310/ntj.2008.4.03
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    Cited by:

    1. Yu, Huayi & Hou, Yujuan, 2021. "A tale of two districts: The impact of district consolidation on property values in Shanghai," Regional Science and Urban Economics, Elsevier, vol. 87(C).
    2. Masayoshi Hayashi & Takafumi Suzuki, 2018. "Municipal Mergers and Capitalization: Evaluating the Heisei Territorial Reform in Japan," CIRJE F-Series CIRJE-F-1105, CIRJE, Faculty of Economics, University of Tokyo.
    3. Nguyen-Hoang, Phuong & Yinger, John, 2011. "The capitalization of school quality into house values: A review," Journal of Housing Economics, Elsevier, vol. 20(1), pages 30-48, March.
    4. Collins, Courtney A. & Kaplan, Erin K., 2022. "Demand for School Quality and Local District Administration," Economics of Education Review, Elsevier, vol. 88(C).
    5. Lirong Hu & Shenjing He, 2024. "Entrance opportunity vs. academic performance: unpacking the nonlinear capitalization effects of multidimensional school qualities on housing sales and rental prices," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-13, December.
    6. Pengju Zhang, 2023. "The fiscal and economic impacts of municipal dissolution: evidence from New York," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 30(4), pages 948-1001, August.
    7. Xie, Gang & Zhang, Lei, 2022. "Effects of school closure on household labor supply: Evidence from rural China," China Economic Review, Elsevier, vol. 71(C).

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