The Impact of School Facility Investments on Students and Homeowners: Evidence from Los Angeles

This research examines the impact of school facility investments using administrative records from Los Angeles. The authors find that new facility openings have positive impacts on test scores, attendance, and house prices. With upgraded facilities, students were less likely to miss school and more likely to sustain academic effort, resulting in modest but measurable gains in learning. At the same time, each dollar invested in local school buildings yielded a $1.62 gain in home values in surrounding neighborhoods.