America's Richest School Districts
The average income of Americans differs by state, county, city and ZIP code, obviously. At each level, the amount residents earn every year impacts available government services, health and overall quality of life. This is especially true when education is examined by school district.
24/7 Wall St. analyzed Census data from 2006 through 2010 for each of the more than 10,000 unified school districts in the United States. Wealth appears to have an outsized effect on education at the local level. Residents that live in wealthy school districts have among the best schools in the nation based on graduation rates, test scores and independent ratings of academic success. Children who attend these schools are more likely to earn a college degree than the national average. To illustrate the influence wealth and poverty have on educational attainment, 24/7 Wall St. examined the wealthiest and poorest school districts in the country.
Nearly all of the wealthiest school districts are within a short distance of one of the richest cities in the country. Other than one suburb of Portland, Ore., all of the wealthiest school districts are commuter towns of New York City, located in either Fairfield County, Conn., or Westchester County, N.Y. The poorest districts are rural communities scattered all over the country, from Ohio and Kentucky to Texas and Mississippi.
Compared to the national median income, the families in the most well-off districts are incredibly wealthy. In the 10 richest school districts, median incomes ranged from $175,766 to $238,000. By comparison, the national median household income from 2006 to 2010 was $51,914. Among the 10 wealthiest districts, between 48% and 64% earned $200,000. Nationally, only 5.4% of households earned more than that.
Median income in the poorest school districts was just as extreme. Annual median incomes in those districts ranged from $16,607 to $18,980, well below $22,314, the national poverty line for a household of four. In San Perlita Independent School District in Texas, one of the poorest districts in the country, 30% of residents earned less than $10,000 each year.
According to the National Center of Education Statistics, all of the wealthiest school districts spend far more per pupil than the national average. The Darien, Conn., public school district spends $15,433 per student per year, more than 50% above the U.S. average of $10,591. The Edgemont, N.Y., public school spends more than $25,000 per student annually. Barbourville, Ky., the poorest school district, spends less than one-third that amount.
Not surprisingly, the richest schools are considered better than the poorest schools, based on measures used by the media to rank academic success. All of the richest school districts were included in the 2012 U.S. News & World Report Best High Schools list, except for Bronxville, which was ranked fourth in Newsweek’s Top 20 High Schools in the Northeast. U.S. News based its rankings on state test scores and college readiness, while Newsweek’s methodology included graduation rates, college acceptance and AP exams. The poorest school districts did not fare as well. Only two were included in the U.S. News rankings.
On a national level, nearly half of all property tax revenue goes to public school funding. As a result, most districts rely heavily on local funding. In the richest school districts, up to 90% of the school district budget is from residents’ taxes. Homeowners in these regions pay an average of $18,000 in Weston, Conn. to $43,000 in Bronxville, N.Y. Bronxville’s average property tax bill alone is more than twice the median household income of any of the poorest school districts on this list. By comparison, as little as 6% of school revenue is generated by local taxes in the poorest school districts, with state and federal funding making up the difference.
24/7 Wall St. used the U.S. Census Bureau’s American Community Survey from 2006 to 2010 to measure the economic conditions of more than 10,000 unified school districts across the United States. After eliminating the districts with fewer than 10 school-aged children, those that are not unified and those that do not provide a K-12 curriculum, we identified the 10 districts with the highest median income among residents and the 10 with the lowest median income. We also considered income distribution, the percentage of children living in poverty, median home values and the percentages of adults holding high school and bachelor degrees in these school districts. From housing information site Trulia, we obtained academic test scores in all of the districts. Information on academic performance for each district also was based on the 2012 U.S. News Best High Schools, the 2012 Newsweek Top High Schools and individual district websites. 24/7 Wall St. contacted assessor’s offices to obtain average property taxes paid in these areas and relied on the National Center of Education Statistics for information on school funding.
These are the richest school districts in America.