This study attempted to: (1) develop research criteria and statistically valid analyses; (2) measure the economic influences of well-developed and undeveloped elementary school sites, large open space and small, or limited space school sites, on the market sale prices of comparable single-family residential housing units in matched pairs of urban neighborhoods; and (3) make estimates of the potential additional property tax revenue yields for residential housing units of the well-developed school sites based on the 1972 property tax millage rates applicable in the subject population neighborhoods. The study selected matched pairs of elementary school site neighborhoods in the school districts of Dearborn and Lansing, Michigan. Findings indicate that residential housing units located in close proximity to large, open space elementary school sites produce higher market sale prices than do comparable residential housing located at the same proximity to small, limited space elementary school sites; higher market sale prices occur for residential housing units located near well-developed, small, limited space elementary school sites as compared to similar residential housing units located four or more street crossings away from the subject site; and the projected potential additional property tax revenue yields from residential housing units surrounding large, open space elementary school sites could be sufficient to pay the additional investment for open space acreage, site development, and site maintenance when collected over a 30-year period. (Author/DN)