A family that recently sought advice had a somewhat unusual question. They asked if it's true that when a school is good, housing prices also rise. I answered that in Manhattan, the two are almost inseparable.

A frequently mentioned private school is Trinity School. Located on the Upper West Side, it has 1,001 students from kindergarten through 12th grade. The class size is high, with one teacher for every six students. Tuition ranges from $58,495 to $69,000 per year, depending on the grade. The Ivy Plus college admission rate is about 40 percent, placing it among the top private schools in New York City. The acceptance rate for kindergarten and 9th grade is reported to be around 12 to 15 percent, according to data from Niche and Private School Review.

When looking at all private schools in Manhattan, Trinity is not particularly expensive. Recently, at least eight private schools in New York City have tuition exceeding $70,000 per year. For example, Avenues: The World School charges $75,300 per year, and Lehman Manhattan Prep School charges around $67,300 per year, based on Bright Kids data. Due to the significant increase in tuition, some prestigious private schools have been reported to offer financial aid to families with annual incomes reaching $800,000. According to Fox News, the eligibility and amount of aid vary by school, so individual verification is necessary.

Families burdened by tuition costs also consider public specialized high schools. A representative example is Stuyvesant High School. Based on overall test scores in New York State, 100 percent of students achieved above the standard in both math and reading. It is rated as the number one public high school in New York State by Niche. Admission is determined solely by a separate entrance exam with no application fee, so there is no tuition burden. When comparing the two options side by side, Trinity offers small class sizes and extensive support for tuition, while Stuyvesant allows students to attend without tuition if they pass the exam. Which option is better depends on the child's personality and the family's budget.

Families moving from other states or Korea should also pay attention to the academic calendar. The admission process for private schools in the U.S. typically begins in the fall of the previous year, with application deadlines clustered between January and February of the following year. The new school year usually starts in late August or early September. In simpler terms, this means that to enroll for the fall semester, preparations should start at least 6 months to a year in advance.

Now, let's talk about housing prices. The average home value in the Upper West Side, where Trinity is located, was $1,355,297 in June of this year, according to Zillow. This is a 1.7 percent increase from a year ago. According to Redfin, the median sale price over the last three months was $1,600,000. Although the calculation methods vary by source, the overall picture remains the same, showing a range in the mid-$1 million.

For families moving from other states, it's also important to consider rental prices. Manhattan has a lower rent-to-sale price ratio compared to the national average, so when considering the duration of children's education, renting may be a more realistic choice than buying. Of course, this depends on individual financial situations and living plans. For investors looking at the rental market, areas like the Upper West Side, which have clear school districts, have the advantage of shorter vacancy periods. However, this also means that the purchase prices are high, resulting in lower rental yields. This is one reason many families choose to live in a property until their children finish their education and then sell it. Even for those renting, public school assignments in New York City are based on address, so it's wise to check the assigned school for the building's address before signing a lease.

In summary, when considering education for children in Manhattan, it's important to compare tuition and academic performance between private and public options. School district boundaries and admission criteria for specialized schools can change annually, so it's advisable to verify with the New York City Department of Education before submitting applications. This is not investment or legal advice, and it is recommended to consult relevant professionals before making any contracts or applications.