The 20 Best College Towns to Buy an Investment Property
By Jeff Anttila
It’s no secret that real estate can be a lucrative investment. But how do you know which house to buy, or better yet, what city you should buy it in? While there may be arguments for many attractive cities based on recent growth or fluctuations in housing prices, college towns are consistently some of the best places to buy investment properties in the U.S.
Demand for rental properties in college towns remains high due to steady demand. From new students to university faculty coming in each year, you’ll never find yourself scrambling to rent out your place. College towns also make great locations for BnB-type rental properties as visitors tend to flock to college towns during sports seasons and friends or relatives of students often visit and need a place to stay.
Which college town is right for you for a future investment property? To help you decide, we ranked college towns across the U.S. by affordability, walking distance to amenities, and the level of high-quality education relative to low tuition and fees.
1. Binghamton, NY – Binghamton University – SUNY
Median List Price: $119,000
Tuition and Fees: $24,488
U.S. News and World Report Ranking: 80
Walk Score: 55
2. Syracuse, NY – SUNY College of Environmental Science and Forestry and Syracuse University
Median List Price: $118,000
Tuition and Fees: $18,218 (SUNY ESF) and $51,853 (Syracuse University)
U.S. News and World Report Ranking: 118 (SUNY ESF) and 53 (Syracuse University)
Walk Score: 61
3. Buffalo, NY – University of Buffalo
Median List Price: $155,000
Tuition and Fees: $27,758
U.S. News and World Report Ranking: 89
Walk Score: 68
4. Gainesville, FL – University of Florida
Median List Price: $235,500
Tuition and Fees: $28,658
U.S. News and World Report Ranking: 35
Walk Score: 34
5. Athens, GA – University of Georgia
Median List Price: $205,000
Tuition and Fees: $30,404
U.S. News and World Report Ranking: 46
Walk Score: 46
6. Champaign, IL – University of Illinois Urbana-Champaign
Median List Price: $194,000
Tuition and Fees: 32,568
U.S. News and World Report Ranking: 46
Walk Score: 50
7. Baltimore, MD – John Hopkins University
Median List Price: $190,000
Tuition and Fees: $53,740
U.S. News and World Report Ranking: 10
Walk Score: 69
8. Tallahassee, FL – Florida State University
Median List Price: $237,700
Tuition and Fees: $21,673
U.S. News and World Report Ranking: 70
Walk Score: 32
9. Cleveland, OH – Case Western Reserve University
Median List Price: $89,900
Tuition and Fees: $49,042
U.S. News and World Report Ranking: 42
Walk Score: 60
10. St Louis, MO – Washington University in St. Louis
Median List Price: $170,000
Tuition and Fees: 53,399
U.S. News and World Report Ranking: 19
Walk Score: 65
11. Columbus, OH – Ohio State University – Columbus
Median List Price: $215,000
Tuition and Fees: $29,659
U.S. News and World Report Ranking: 56
Walk Score: 41
12. Pittsburgh, PA – University of Pittsburgh and Carnegie Mellon University
Median List Price: $200,000
Tuition and Fees: $32,052 (University of Pittsburgh) and $55,465 (Carnegie Mellon)
U.S. News and World Report Ranking: 70 (University of Pittsburgh) and 25 (Carnegie Mellon)
Walk Score: 62
13. Rochester, NY – University of Rochester
Median List Price: $139,000
Tuition and Fees: $53,926
U.S. News and World Report Ranking: 33
Walk Score: 65
14. New Haven, CT – Yale University
Median List Price: $225,000
Tuition and Fees: $53,430
U.S. News and World Report Ranking: 3
Walk Score: 68
15. Provo, UT – Brigham Young University – Provo
Median List Price: $318,000
Tuition and Fees: $5,620
U.S. News and World Report Ranking: 66
Walk Score: 47
16. West Lafayette, IN – Purdue University – West Lafayette
Median List Price: $264,900
Tuition and Fees: $28,804
U.S. News and World Report Ranking: 56
Walk Score: 50
17. Philadelphia, PA – Temple University and the University of Pennsylvania
Median List Price: $245,000
Tuition and Fees: $28,426 (Temple University) and $55,584 (University of Pennsylvania)
U.S. News and World Report Ranking: 106 (Temple University) and 8 (Pennsylvania)
Walk Score: 79
18. Troy, NY – Rensselaer Polytechnic Institute
Median List Price: $134,000
Tuition and Fees: $53,880
U.S. News and World Report Ranking: 49
Walk Score: 55
19. Albany, NY – University of Albany – SUNY
Median List Price: $218,000
Tuition and Fees: $24,436
U.S. News and World Report Ranking: 140
Walk Score: 65
20. Lawrence, KS – University of Kansas
Median List Price: $169,000
Tuition and Fees: $27,358
U.S. News and World Report Ranking: 129
Walk Score: 40
Methodology:
Only the top 200 schools in the U.S. News and World Report National Universities Rankings list were considered. We used their rankings as well as their tuition and fees cost information. We then only considered locations with median list prices under $550,000. Tuition and fees, U.S. News and World Report ranking, and median list prices were all weighted equally (.3), with Walk Score weighted less than these categories (.1).
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