Faced with decreasing funds and increasing costs, a growing number of school districts across the United States are switching to four-day school weeks (4DSWs). Although previously used only by rural districts, the policy has begun to gain traction in metropolitan districts. We examine homeowner, teacher, and student outcomes in one of the first metropolitan school districts to adopt the 4DSW. We find 2 to 4 percent home price declines relative to surrounding school districts, a 5 percent decrease in teacher retention for experienced teachers, and a 0.2 to 0.3 standard deviation decrease in student test scores. These results suggest the decision to adopt a 4DSW in a metropolitan setting should not be taken lightly.