Test Scores and Home Prices

Last week the results for the Connecticut Mastery Test were released to the public.  The Courant has put together a nice page for quickly seeing data, while the official results website allows users to generate detailed reports.

As expected, there has been a flurry of commentary on the results for different towns.  The West Hartford results are being debated on West Hartford Forums, Talk of West Hartford, and The West Hartford Blog.  I’m sure that there are other places also.

Rather that rehashing what has already been said, let’s keep the focus on real estate and take a look at the relationship between test scores and home prices.  Will buying a home in a town with higher median home prices provide access to better performing schools (based on CMT results)?

Test Scores vs Home Prices 

The above graph shows test scores for each town (average performance of eighth graders) as a function of the town’s median home prices (second quarter of 2008).  It is interesting to note that test scores and median home price seems to be correlated.  I’m sure there are other factors that influence the relationship. Anyone up for running a regression analysis… 🙂