Three Rochester area neighborhoods have been named in the 10 Most Affordable Neighborhoods with the Best Schools by 24/7 Wall St. LLC.
The Pine Brook Elementary School neighborhood of Greece ranked sixth on the list. The report noted the average home price in the area was $89,326, while the house payment percentage of median income was 13.34 percent. Students in the district scored 51 percent higher than the average student statewide.
The Briarwood School district neighborhood of West Irondequoit ranked seventh on the report, with an average home price of $114,562 and house payment percentage of income of 13.9 percent. Students in the district scored 94 percent higher than the average student in New York, the report states.
“Families who live in Rochester and send their children to Briarwood School have the benefit of a quality primary school, affordable homes, low unemployment rates and a well-educated community,” the report stated.
The Monica B. Leary Elementary School district neighborhood in Rush ranked eighth on the list. The average home price in the area is $161,252, according to the report, and the house payment percentage of median income is 14.05 percent. Thirty-four percent of students in the district scored higher than their counterparts statewide.
The report notes that for many homebuyers, the top consideration when searching for a place to live is where their children will go to school. As a result, the report concludes, consistently stellar schools often go hand-in-hand with high home prices.
To find the country’s top 10 neighborhoods, 24/7 Wall St.—a corporation that runs a financial news and opinion company with content delivered online—looked at housing market data from RealtyTrac, focusing on unemployment rates, test score data and average home values.
Trenton Elementary School in Trenton, Ill., ranked as the most affordable neighborhood. The report notes many of the schools and neighborhoods in the top 10 were in suburban areas and many were in the Midwest. Additionally, none of the areas listed had unemployment rates, as of September, that exceeded the national average.
(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail email@example.com.