Top 10 Most Affordable College Towns
I came upon a recent survey of real estate professionals in university towns shows that many parents are buying homes for collegiate children.
The survey found 73% of practitioners surveyed said they see a significant number of investors buying homes near campus and renting them to people in the community, with only 21% seeing a decrease in this trend over the past five years.
And football matters. Some 24% of practitioners said the success of a college’s sports teams can have an impact on the local real estate market.
The survey also identifies the 10 most affordable college towns and the 10 least affordable ones. It found that nearly two thirds of the college markets have homes priced less than $250,000.
Here are the 10 most affordable markets and their average list prices:
1. Ball State University, Muncie, Ind., $105,115
2. University of Buffalo (SUNY Buffalo), Buffalo, N.Y., $117,223
3. University of Memphis, Memphis, Tenn., $135,090
4. University of South Carolina, Columbia, S.C., $137,707
5. University of Akron, Akron, Ohio, $139,711
6. Eastern Michigan University, Ypsilanti, Mich., $141,964
7. Ohio University, Athens, Ohio, $141,964
8. Kent State University, Kent, Ohio, $153,662
9. University of Toledo, Toledo, Ohio, $155,286
10. Louisiana Tech University, Ruston, La., $157, 110
And thank you for making me Your Orange County Real Estate Connection.
Michael Caruso, Broker ABR ABRM CLHMS CRB CRS GREEN GRI
Past President, Orange County Association of Realtors (949) 753-7900