Philadelphia's Central High School ranks on Newsweeks' Top 1,000 schools

When you begin to plan your move to the City of Brotherly Love, you might want to consider purchasing a home located in an area with a superior education system. Fortunately, real estate in Philadelphia is available in close proximity to Philadelphia's top high school.

Recently, Newsweek Magazine listed its top 1,000 schools in the nation, with Central High School, located at 1,700 West Olney Avenue, shining alone as Philadelphia's sole entry on the list. Central High ranked at number 375, and you may want to relocate to an area that makes it possible for your children to attend classes at this prestigious school system.

"We are extremely proud of Central," said School District of Philadelphia spokesman Fernando Gallard to the Philadelphia Tribune. "Central has always ranked as one of the highest performing schools in the nation, and we are very proud of what they've accomplished."

Gallard went on to describe the school community as a tight-knit and inspiring network of faculty members, students and involved parents.

However, the City Council has recently established the framework for a new budget deal that would give Mayor Michael Nutter money to put toward improving the rest of the Philadelphia School District. Under the deal, the property tax rate would be between 1.75 and 1.8 percent of a property's value, depending on where Council sets exemptions, The Philadelphia Inquirer reports. For example, a tax rate of 1.75 to 1.8 percent of assessed value would result in a homeowner paying between $1,750 to $1,800 in taxes per $100,000 of real market value property. In the end, you may pay more to live in areas with superior education systems through this new bill.

Currently, prospective homebuyers can invest in Philadelphia property without breaking the bank. According to ZipDataMaps, the average real estate sale price around Central High is $78,714, which makes purchasing a home or condo an affordable venture even for first-time buyers.

Purchasing a home is a big undertaking, so you want to make sure you get significant benefits for your money. When you go through with a home closing in an area that has superior educational programs, your financial investment will show big returns down the line. When moving into the Greater Philadelphia area, you might want to keep abreast of the latest statistics to land yourself in an neighborhood that will help your kids shine.