Do Smarter People Pay More for Homes?
By: Zillow Team, | June 13, 2006
A new study by Bizjournals.com names the "smartest" cities in the U.S. — with Seattle topping the list, followed by San Francisco and Austin. The analysis is based on the educational level of adults in America’s 53 largest cities.
We wondered: any correlation between home values and purported "smartness" of a city’s residents?
According to our data, that’s up for debate… though the data does remind us, once again, of the relative expensiveness of the San Francisco Bay Area and Seattle.
Here are the top-ranked cities, followed by their Zindex home valuation index, or today’s median value for all homes in that city. For reference, the national Zindex is currently $260,366.
| 1. Seattle | $408,638 |
| 2. San Francisco | $847,745 |
| 3. Austin | $163,795 |
| 4. Colorado Springs | $191,529 |
| 5. Minneapolis | $227,859 |
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erin on June 14, 2006 3:38 pm
Maybe a more accurate correlation is that better-educated people earn more money and therefore can afford the expensive areas.