Indiana University-Purdue University Indianapolis (IUPUI / Charter schools are a major movement in American education and increasingly used as a city strategy for neighborhood rehabilitation. Indianapolis is one of a growing number of urban areas to promote charter schools as catalysts for neighborhood revitalization. Previous studies find mixed results about the causes of neighborhood change or how residents make mobility decisions. The present study seeks to create an empirical model that discovers the impact of charter schools as a neighborhood amenity. This is based on two measures of well-being: change in percentage poverty and change in percentage school-aged residents. Data indicate a negative relationship between charter schools in a census tract and the school-aged resident population. However, statistical analysis did not support a significant relationship between either measure and charter schools in the ten year time frame.