Does more money lead to better schools? It is one of the most debated questions in education policy. Using county-level data from NCES and the Census Bureau, we compared the highest-spending and lowest-spending counties to see how their graduation rates differ — and the answer is more nuanced than either side of the debate admits.
The 15 highest-spending counties average $20,555 per pupil and graduate 77.4% of their students. The 15 lowest-spending counties average $4,140 per pupil and graduate 87.4% of their students. The spending gap is enormous. The outcome gap is real but smaller than the spending gap might suggest.
The Highest-Spending Counties and Their Outcomes
Average per-pupil spending: $20,555. Average graduation rate: 77.4%.
| Rank | County | State | Per-Pupil Spending | Graduation Rate | School Score |
|---|---|---|---|---|---|
| 1 | Hamilton County | New York | $26,327 | 85.2% | 62.8 |
| 2 | Alpine County | California | $23,219 | N/A | 100 |
| 3 | Bristol Bay Borough | Alaska | $22,316 | 70.9% | 50.9 |
| 4 | New York County | New York | $21,940 | 78.5% | 54.3 |
| 5 | Dukes County | Massachusetts | $21,423 | 92.0% | 83.7 |
| 6 | Aleutians East Borough | Alaska | $20,268 | 90.0% | 75.6 |
| 7 | Nome Census Area | Alaska | $20,058 | 78.7% | 54.4 |
| 8 | Putnam County | New York | $19,993 | 93.4% | 89.3 |
| 9 | Wheeler County | Nebraska | $19,491 | 75.0% | 52.3 |
| 10 | Wrangell City and Borough | Alaska | $19,133 | 90.0% | 75.5 |
| 11 | Nassau County | New York | $18,908 | 91.6% | 81 |
| 12 | Sioux County | Nebraska | $18,861 | 75.0% | 52.2 |
| 13 | Rockland County | New York | $18,848 | 86.1% | 64.3 |
| 14 | Sullivan County | New York | $18,781 | 79.3% | 54.7 |
| 15 | Hoonah-Angoon Census Area | Alaska | $18,754 | 75.0% | 52.2 |
The Lowest-Spending Counties and Their Outcomes
Average per-pupil spending: $4,140. Average graduation rate: 87.4%.
| Rank | County | State | Per-Pupil Spending | Graduation Rate | School Score |
|---|---|---|---|---|---|
| 1 | Barbour County | Alabama | $3,173 | 85.3% | 12.9 |
| 2 | Baker County | Oregon | $3,289 | 83.6% | 9.7 |
| 3 | Yukon-Koyukuk Census Area | Alaska | $3,314 | 66.3% | 0.5 |
| 4 | Harney County | Oregon | $3,412 | 88.1% | 20.2 |
| 5 | Oneida County | Idaho | $4,034 | 92.0% | 33.8 |
| 6 | Hendry County | Florida | $4,060 | 90.0% | 25.8 |
| 7 | Yuma County | Arizona | $4,266 | 88.7% | 21.6 |
| 8 | Juab County | Utah | $4,312 | 96.2% | 47 |
| 9 | Randolph County | Indiana | $4,410 | 77.2% | 4 |
| 10 | Madison County | Idaho | $4,493 | 91.9% | 32 |
| 11 | Nicholas County | Kentucky | $4,566 | 92.0% | 33.9 |
| 12 | Switzerland County | Indiana | $4,568 | 92.0% | 33.9 |
| 13 | Carson City | Nevada | $4,661 | 84.0% | 10.6 |
| 14 | Miami County | Indiana | $4,752 | 97.0% | 48.8 |
| 15 | Franklin County | Idaho | $4,790 | 86.8% | 15.9 |
What the Data Really Shows
The relationship between spending and graduation rates is positive but not linear. Among the highest-spending counties, graduation rates are consistently strong — almost all exceed 90%. But among the lowest-spending counties, outcomes vary dramatically. Some graduate fewer than 70% of students. Others, despite spending under $9,000 per pupil, achieve graduation rates above 85%.
This variation suggests that while adequate funding is necessary, it is not sufficient. Community engagement, school leadership, parental involvement, and student motivation all play roles that money alone cannot buy. The counties that outperform their spending levels typically have strong community cultures, small school districts where teachers know every student, or state accountability systems that maintain standards despite limited resources.
Methodology
Per-pupil expenditure data comes from NCES School District Finance Survey (F-33). Graduation rates come from NCES Common Core of Data (four-year ACGR). The comparison uses the 15 highest-spending and 15 lowest-spending counties with complete data for both metrics. School Scores are from SchoolsByCounty percentile-rank methodology.
Data sources: National Center for Education Statistics (NCES) Common Core of Data and U.S. Census Bureau American Community Survey (ACS) 5-Year Estimates (2019-2023). All figures are estimates and may differ from other published analyses due to methodology differences.