Meaning:
“学区” means “school district,” and “房” means “housing.” This term can be translated as “housing in a quality school district.” In big cities in China, housing in a high-quality school district is particularly sought after by parents because of the proximity of educational resources and the advantage of obtaining admission opportunities. This trend has pushed up the housing prices in a good school district, with the average prices at least 20 percent higher than those of nearby homes that are out of the school boundaries. Some people criticize the phenomenon, saying it harms the equal rights to compulsory education enjoyed by all children.
Example:
A: 你家孩子今年该上小学了吧？
Nǐjiā háizi jīnnián gāi shàng xiǎoxué le ba？
Is your kid going to primary school this year?
B: 是啊，买不起学区房，就在家门口的普通学校念了。
Shì a，mǎibùqǐ xuéqūfáng，jiù zài jiāménkǒu de pǔtōng xuéxiào niàn le。
Yes. Since I cannot afford housing in a good school district, he will go to an ordinary school in the neighborhood.