This is a media falsehood. Money != Quality Education.
Lived in one city. Higher wages, higher level of overall education, multiple colleges, very high per-pupil expenditure--terrible performance.
Lived in a rural town. Low wages, uneducated, poor, lower per-pupil expenditure--outstanding school performance.
I'll ponder some other hypothesis, but money ain't it.
edit: will add--before someone derps me on sample size--that a careful review of the stats will establish this as the rule rather than the exception.