Data and Code for: The Impact of School Facility Investments on Students and Homeowners: Evidence from Los Angeles

We study the effects and efficiency of school facility investments using administrative records from Los Angeles. Exploiting quasi-random variation in the timing of new facility openings and using a residential assignment instrument, we find positive impacts on test scores, attendance, and house prices. Effects are not driven by changes in class size, peers, teachers, or principals, but some evidence points towards increased facility quality and reduced overcrowding. We evaluate the efficiency of these investments using valuation from both future earnings due to achievement gains and housing capitalization. We estimate that for each dollar spent, the program generated 1.62 dollars in household value, with much of the valuation due to non-academic benefits.