What Parents Are Really Willing To Pay for a House Close Enough To Walk Kids to School

When families with kids are buying a home, factors such as the number of bedrooms, school district quality, and neighborhood safety are usually top of mind. For many parents, walkability is also key—even if it comes with a higher price tag. 

According to a new survey by the National Association of Realtors®, 63% of people would pay more for a home in an area that allows them to easily walk to parks, shops, and restaurants.

Furthermore, 59% would choose a smaller lot in a walkable neighborhood over a larger one that requires more driving. 

If you’re a parent considering your next home, living within walking distance of school could be worth the increased cost as it offers a variety of benefits, like time savings on your daily commute and greater independence for your kids.

However, it’s up to you to evaluate walkability in a home that piques your interest and determine whether the perks of living near school (as well as parks, restaurants, and other amenities) justify the potential premium you’ll likely pay. 

How walkability affects home values

The NAR survey makes it clear that some buyers, including those with kids, are willing to pay more for walkability. 

The Realtor.com analysis also reinforces the value families place on location and easy access to good schools. It found that popular, highly rated school districts had a median list price of $1.21 million—135% higher than their surrounding metros.

“In Manhattan, I see families make very intentional trade-offs on space and finishes in exchange for a location that allows their children to walk to school safely. You’re buying proximity, but you’re also buying back time,” says Michelle Griffith, luxury real estate broker at Douglas Elliman in New York City.

The premium a buyer is willing to pay for walkability, however, varies and depends on the school itself, the neighborhood, and the housing inventory.

“From my perspective, when you combine a great school, a safe walk, and limited inventory, you have a very motivated buyer. Families aren't just comparing square footage anymore,” Griffith explains.

They're thinking about how much easier that location makes their everyday lives. That can translate into stronger demand and, ultimately, a willingness to pay more.

“Trilith is one example of a great walkable community in Fayetteville, GA, where people clearly pay more to live,” explains Stephen Poulakos, director of town planning and design at Seabrook in Pacific Beach, WA.

In a Realtor.com listing, a three-bedroom, 1,864-square-foot townhome in Trilith is listed for $749,950, or $402 per square foot, while a similar property in another part of Fayetteville is available for $359,900, or $225 per square foot.

Before you put an offer on a home in a walkable community, be sure to walk the neighborhood multiple times a day to get a good read of what goes on throughout the day and week. (Getty Images)

The benefits of living within walking distance of school

For some parents, the quality-of-life benefit of living within walking distance of a school is worth paying a premium.

“Being able to walk to school means less time dealing with traffic, bus, or subway delays and reroutes, parking and daily drop-off, and pickup logistics. It also gives kids more independence as they get older,” Griffith says.

Griffith often tells families to look beyond “How big is the home?” Instead, ask “What can my child safely do from this location?” That can be a much more meaningful measure of value.

Poulakos notes that in many cases, parents are buying more than just the house itself. 

“You’re buying the idea of an entire walkable community with parks, public spaces, and infrastructure that promotes neighborhood living and that can be a game changer for you and your kids,” Poulakos explains. 

What to look for when assessing walkability 

According to Poulakos, the best walkable communities allow for a wide range of housing on the same block, such as accessory dwelling units, single-family residences, duplexes, and other multiunit buildings. 

“Allowing more people to live in a compact urban block makes streets safer because more people's eyes are on the street. In addition, it makes it easier to place pedestrian- and bike-friendly retail closer to more people, ensuring a more vibrant town center and walkable place,” Poulakos explains.

Before you put an offer on a home in a walkable community, be sure to walk the neighborhood multiple times a day to get a good read of what goes on throughout the day and week. If you look at it only during the day on a Saturday, for example, you won’t know what it's like during the busiest or most important times. 

“The most important times include 8 a.m. (school/commute rush), 6 p.m. (evening activity), and 10 p.m. (nighttime safety),” Poulakos says.

As you assess the property, Griffith recommends you look for continuous sidewalks and safe crossings.

“Is there a safe, uninterrupted path the entire way? How many streets does your child have to cross, and are there signals, visible crosswalks, or crossing guards?” Griffith says.

Also, pay attention to how fast cars are moving, not just how much traffic there is. Look for speed humps, raised crossings, curb extensions, or other measures that slow vehicles.

Visibility is also key.

Can drivers see children approaching a crossing? Are there parked cars, landscaping, or other obstacles blocking sight lines? In addition, consider what the route looks like during darker months or later in the day, especially for older children who may eventually walk independently.

“Don’t hesitate to reach out to other parents and families in the neighborhood, too. They will know the best, common routes. This also provides an opportunity for children to make friends and walking buddies, overall strengthening a sense of community for new buyers,” adds Grifith.