How much does it really cost to live in a neighborhood with high-ranking schools?
A new study from RENTCafe took a look at what cities and ZIP codes throughout the country that rated 8, 9 and 10 by GreatSchools.org and what it costs to live there. According to their findings, five Queens areas were among the top 20 ZIP codes with high-ranking schools where renting is cheaper than in ZIP codes without a top-rated school.
Rents in ZIP code 11432 (Jamaica), which has two top-rated schools, had average rents of $1,765, which on average is $1,620 cheaper than in areas without top-rated schools. This price difference was the largest difference compared to RENTCafe’s findings.
Following behind the Jamaica area was the 11355 ZIP code (Flushing), which has six top-rated schools. In this area, averages rents were priced at $1,885, marking a $1,500 difference compared to areas without top-rated schools. Right behind Flushing is the 11373 ZIP code (Elmhurst), which has four top-rated schools, with average rent prices of $1,917, a $1,468 difference compared to areas without top schools.
The fourth Queens area, listed with one high-ranking school, was the 11368 ZIP code (Corona). In this neighborhood, average rents were priced at $1,952, showing a $1,433 difference compared to areas without top-rating schools.
Finally, with four top-rated schools, the 11374 ZIP code (Rego Park) had average rent prices listed as $2,104. This marked a $1,281 price difference compared to neighborhoods without high-ranking schools.
Visit rentcafe.com to read the full report. Check out the chart below to see how these Queens areas compared to other American neighborhoods.