Do Rising House Values Lift Scores? A Ten-Year Within-Municipality Analysis

• In Event: AERA Roundtable Session Saturday 9:45 am
  In Roundtable Session: Governing the Modern School District: Data, AI, and the Impact of Local Economics

Abstract

Leveraging panel data for 229 Korean municipalities (2010-2019), this study applies a fixed effects cross lagged panel model to explore reciprocal relationships between housing prices and student achievement on the College Scholastic Ability Test. Results reveal strong temporal stability in both domains yet asymmetric cross lagged effects: rising apartment prices reduce subsequent shares of low achievers (Levels 7–9) but leave top performers (Level 1) unchanged, while deteriorating achievement marginally depresses later housing values. Findings expose a mutually reinforcing loop of socioeconomic and educational inequality, highlighting the need for integrated housing and educational policy interventions to disrupt place-based educational disadvantage.

Authors

• Baeksan Yu, Gwangju National University of Education

• Hyejung Lim, Korea University

• Hyevin Shin, University of Florida