THE ARIZONA EDUCATION CRISIS: It’s complicated!!
An overview of how complicated this issue really is. I have been a Realtor for over 10 years. I also have been studying data science and have been very interested in the numbers behind the issue. Here is what I have so far:
FACTOR 1, THE FUNDING: The k-12 education budget was on the decline until about 2012. 2013 it started going up about 1% each year. 2018 will be the biggest increase.
FACTOR 2, COST OF LIVING: Cost of living increases are playing a big roll in the education crisis. Average home cost in 2013 was $140,000 and today is $230,000. That’s a 61% increase. Not including rising food costs, fuel, taxes etc…..Teacher’s are feeling the crunch.
FACTOR 3, POPULATION INCREASE: We have more people, more families with more kids which means we need more teachers, and we can’t afford to pay them. Maricopa county sees about 6,000 to 7,000 new families a month and we cannot support all the new kids.
FACTOR 4, INCOMES: The median income of AZ is somewhere around $50 – $65k a year. Home prices will rise, however when the median incomes cap out current inventory, it will force it to flatten out.