The authors find evidence of enrollment increases in both Syracuse and Buffalo following the announcement of a placed-based scholarship program, Say Yes to Education. While the Syracuse increases were accompanied by enrollment declines in surrounding suburban districts, the Buffalo increases coincided with declines in private school enrollments. Buffalo and Rochester also saw enrollment increases relative to trends following the announcement of Say Yes in Syracuse, suggesting that part of the increase in Syracuse might be attributable to factors other than Say Yes. The authors also find evidence of increases in home prices in Syracuse after the program’s announcement, as well as decreases in the surrounding suburbs. They do not find evidence of similar housing price changes in Buffalo.