Are you aware of any data that shows the effects on educational outcomes in areas where teachers *can't* afford to live in the areas they teach? Would be interested in this.

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We are interested in this data, too, and we’re working on some research of our own. I tried to tackle this question (see my blog here: https://www.landed.com/blog/why-teacher-homeownership-is-central) and found that there’s more work to be done on this question, but here’s some of what we know:

Teachers with stable housing are much more likely to stay in the classroom, which helps schools recruit and retain high-quality staff and increase the quality of education in a community. Berkeley Unified School District’s 2018 study of its employees found over half considered leaving because of high housing costs. You can learn more here and check out the full study: https://www.landed.com/blog/exploring-school-district-employee-housing-in-california

Here are two data points we use when speaking about the need for stable housing for school employees: Research estimates that educator turnover costs $20,000 for each new hire and that a quality educator can increase the lifetime income of a classroom by $250,000.
Sources: https://learningpolicyinstitute.org/product/the-cost-of-teacher-turnover, https://economics.harvard.edu/news/new-study-long-term-impacts-teachers-harvard-professors-raj-chetty-and-john-friedman-wins-wide

Keep the data questions coming :)

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Additional Posts in Homeownership for Teachers

Landed’s been working with the College Football Playoff Foundation, and we just gave away another $25,000 to help a Bay Area teacher buy a home. We surprised Jenna, 3rd grade teacher this AM.

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likehelpful

Glad you are here to answer our questions. How exactly does landed work?

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Thanks for doing this! How did ya'll at Landed come up with this idea? Super interesting.

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My honest opinion is that biggest impediment to home ownership for teacher is our bullshit pay.

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Signing off for the day! Looking forward to continuing the conversation tomorrow. Keep the questions coming :)

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Over the next couple days, my colleague Jess (who heads all our customer experience work) and I will be popping in and out to take questions on the topic of becoming a homeowner. Hope we’re helpful!

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My score is 620 nothing outstanding but my student loans are killing me. I cant get approve for a house

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What a great conversation so far! I’m headed to a couple meetings but will check back in soon - keep the questions coming!

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I recently closed on a home and felt like I had to claw for 10% of my downpayment - didn't do 20. Do you think it was a mistake to not do 20? It just seems impossible as a teacher.

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What happens if a teacher you work with looses their home to a disaster like a fire or earthquake?

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Hi everyone!! It’s Jess at Landed here. Excited to answer your questions over the next few days with my teammate Alex. Will be popping in and out until Friday - look forward to chatting!

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I'm in my second year of TFA, and am thinking of sticking with this teaching thing (crazy, I know). I'm wondering if you have savings accounts I can use to work towards a down payment.

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I'm a leader in our union and am finding what you're talking abut here pretty interesting. Do you think we should talk to our unions about including home ownership in negotiations? How cld we do this?

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I'm a younger teacher in a high COL area. In terms of wealth building, how does home ownership stack up to other methods like investing in stocks?

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Related to a teacher from Indiana who had to make a big repair, how do you recommend we budget for maintenance? I feel like we can work towards downpayment, but maintenance puts it out of reach.

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