In order to analyze the market value of owned homes by education nationally we have broken the national population into the following categories:
When we look at the national averages of market values of owned homes through the lens of education some fairly predictable and one very interesting fact seems to stick out. For all the other categories of education except the associate's degree, the average market value of home has actually gone up over the 10 years covered in this analysis. The market value of properties has on average increased between approximately 45% to approximately 67%. The market values of homes for folks with an associate's degree however has remained stubbornly fixed at approximately $147k over the same period. What this means is that while the average value of homes for folks with all the other kinds of education actually showed decent increases, the values of homes owned belonging to folks with an associate's degree have probably declined after adjusting for inflation.
It is not surprising to see the market values of folks with bachelor's degree and master's or doctorates increase as much as 65% to 67% respectively. The high correlation between education and the market value of one's home is self evident in this analysis and what is also visible is that the disparity between the market values of well educated and less educated folks is becoming much more acute over the years. For example, in the year 2000, the folks with an associate's degree had homes on average valued at $147k and those with a bachelor's degree actually had homes valued lower at $134k - if you had a master's degree back then you home on average was valued at $170k. Fast forward ten years later to 2010 and you will see that folks with a associates degree have homes valued on average at only $148k where as folks with a bachelor's degree now have homes valued at $222k and those with a Master's degree have homes valued at $285k.
Jose and Diana of Home At Last Realty believe that this is the net effect of globalization where jobs that required some college education have been largely outsourced to other countries and the demand for folks with an associate's degree in the workforce has reduced substantially resulting in lowered wealth and almost stagnant market values of homes. For a realtor, a better educated target market would indicate higher implied value of home and that tends to translate into a larger commission upon the sale of the home.
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