Schools and real estate. Is there a direct correlation? Does a better school (based on rankings) = more expensive real estate?

Before answering that question, let's look at the facts and then draw a conclusion....



The Fraser Institute is the 'go-to' resource for school rankings in Canada. They essentially rate schools based on various testing and then publish those reports for the public to see.

Let's break down the latest results and compare them. I'll only look at the top 3 elementary Toronto schools . You can also check out the rankings here


Top 3 Elementary schools in Toronto (although 7 received a perfect score):


1. Kennedy PS
  • Located at Birchmount and Steeles (E05 district)
  • E05 District Avg. Sale Price for May: $646,902
  • Avg. Days On Market: 13

What if you live within school boundaries?

  • Avg. Price: $1,089,000
  • Avg. Days on Market: 6


2. Hollywood PS

  • Located at Bayview and Sheppard (C14 district)
  • C14 district Avg. Sale Price for May: $1,565,689
  • Avg. Days on Market: 21

What if you live within school boundaries?

  • Avg. Price: $1,863,829
  • Avg. Days on Market: 21


3. Cherokee PS

  • Located at Finch and Victoria Park (C15 district)
  • C15 district avg. sale price for May: $574,236
  • Avg. Days on Market: 8

What if you live within school boundaries?

  • Avg. Price: $670,400
  • Avg. Days on Market: 7


Pretty obvious when looking at these numbers that schools absolutely affect housing prices. Granted these are the top schools so the numbers may seem on the high side, but rest assured, if you go down the list (there are over 3000 elementary schools ranked), you will find a direct correlation between the two.

The next time you're out looking to buy a home, have your realtor break down the numbers and make sure you are within desired school boundaries because one house over can become a costly mistake.

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