How important are school ratings? Between say a 8 and a 9 is there a significant difference? Asking for Elementary school but also more generally.

"ratings" from where? Hopefully not greatschools or a similar site. I've found that most of these online ratings you find are bullshit. It depends on where you live, what the ratings are of other schools in the area, etc.

I've lived all over the place, have been a real estate investor and licensed agent for years, and raised three kids through schools of various "ratings." I was president of the PTA and involved in several school board committees that were heavily focused on school data. Lots of research on schools... In one area, my daughter went to a school that was a 5. It was an amazing school with an IB program. Later, we experienced some serious issues at a 10-rated high school. Take those ratings with a grain of salt. Go meet the administration, get a tour, look at actual programs and results.

Yeah, you don't want to meet every school. Keep that for your short list. Pull data on school performance from the state, go to sites and discussion boards like city-data.com and get input from other parents. Look at college acceptance data on the high schools and then drill down to the middle and elementary schools that feed it.

Just remember that everyone out there has an opinion, and they all stink. Even me. :-D

OP
I think an 8 is still good on whatever rating system you are using.
Check for Honors programs, music and arts programs, sports, STEM, and/or other things you think they might do. The 8 district seems much like my situation. Our suburban SD has all of these programs and puts top grads into the best colleges, while not ranking quite as high as two neighboring districts. My kids went to Europe with the choirs and sang in Carnegie Hall. Both excelled in college (with no debt) and early career. If I was poor from the house in the 9 district, I could not have afforded the trips and college.

8 and 9 not much. 7 is red flag.

S1.. thanks for the advice. Thing is, I’m looking to buy a house. How do I choose location without knowing schools. Would be impossible to go and meet every school.

^ following. 100% same boat

Agree with SLS 1.
OP, will your kids go to the school, or are you only thinking of property values?
I ask because the property value question is simpler.
If your kids are going there, then it's more about the environment that you want as parents. I chose a district that includes a wide economic span. Working class through >$1.5 million homes. The school delivers to all of these groups. Others wanted more of the upper class bubble schools. It's a choice for those who can afford it.

P1.. my 5 year old daughter will go to school there. First kid, so am trying to understand how much difference is really there between schools purely based on ratings say between a 8 and a 9. It’s a 20% difference in home prices and I can barely afford it.

Probably not a deal. Check and see how smart kids do in the schools. Often there are a significant number of students who bring the scores down, but smart kids may still be excelling and way outperforming their peers.