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.

likesmart
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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

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.

like

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

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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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What programs or resources do you have available for Texas teachers?

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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.

likehelpful

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

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likehelpful

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

like

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

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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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What's your favorite story helping someone buy a home? I'm going through the process now and it's so stressful. I need a little positivity :)

likeuplifting

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!

likefunny

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