ATOP, you need to take a good look at City of Decatur Schools. Decatur has its own school system - separate from the DeKalb system. The schools are very small by Atlanta standards. The elementary schools are about 250-350 kids. The middle school is about 450-500 and the high school is about 700-800. The entire school system is under 2500 which is smaller than some suburban elementary schools.
The schools are very good from K all the way through 12 which is not something that you see much in the intown county systems. The K-3 schools employ Expeditionary Learning (google ELOB) and grades 4-12 are implementing the International Baccalaureate Programme. The two educational models are actually very similar and emphasize hands on experiential learning over rote learning through spreadsheets and textbooks. There are many projects (more group projects for young kids and solo projects for the older ones) and many field trips. CSD also teaches Spanish every day from K through 8 and art and music several times a week. In high school, students can continue in Spanish or choose another language.
Decatur is very close to Emory and we have a ton of Emory and CDC staff living here. There are also a ton of kids and kid friendly things to do. So long as you are in the city limits, you can't go wrong with schools. They are all great.
Decatur is working on becoming a charter system which should be a very good thing for such a small system.
Also... most students in Decatur walk or bike to school which I think is a nice added bonus.
Check the schools out on greatschools.net or here
The Governor's Office of Student Achievement
There are new homes in Decatur in you price range, particularly in Oakhurst, but most of the homes are older (early to mid 1900s). The community and school system are diverse and left leaning.