As the school year begins, we thought it would be valuable discuss education in Arizona.
According to a May 2022 AZCentral article, Arizona ranks 48th in the nation in per pupil spending. Currently, according to the Arizona auditor, the state spends $8,296/student each year.
This information caused us to ask a question - Would an increase in educational funding lead to improved educational outcomes? A June 2019 Education Week article outlined research indicating that increased funding does improve educational outcomes when the money is spent on the following: increasing teacher salaries, school maintenance and construction costs, and funding schools with high populations of low-income students.
An April 2022 National Education Association report noted that Arizona teacher salaries (averaging $52,157) rank 44th in the nation. According to the approved and published Scottsdale Unified School District 2022-2023 budget, facilities spending has been increased by nine percent since the 2020-2021 school year, whereas state and federal project expenditures (largely going to low-income students) are down 31% since the 2021-2022 school year.
How does all of this relate to real estate, you might ask? An April 2021 article from the Public School Review noted National Bureau of Economic Research data showing a correlation between school expenditures and home values in any given neighborhood. The article notes that for every dollar spent on pubic schools in a community, home values increased by $20. “These findings indicate that additional school expenditures may benefit everyone in the community, whether or not those residents actually have children in the local public school system.”
To learn more about the positions of your local candidates with regard to education, please click on this link: https://www.azvoterguide.com/candidates/state/
To view recent test results and data for your local school, please find a link to the Arizona Department of Education School Report Cards: https://azreportcards.azed.gov
