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College towns have long had the reputation of being achievers when it comes to real estate investments. They can also offer a great home for young adults, families, and retirees.
Realtor.com®’s research team evaluated nearly 200 cities with at least 10,000 residents--where undergraduates comprise at least 20% of the population. They factored in housing near campus as well as the number of businesses around them.
College towns generally have “steady economies that have less ups and downs,” Mark Zandi, chief economist at Moody’s Analytics, told realtor.com®. College towns can “make very attractive places to live for people who want a more affordable, low-key lifestyle. In many cases, there are reasonably good school districts and lots of different housing choices.”
The following are the top college towns to buy a home for young adults, according to realtor.com®’s analysis:
Champaign, Ill.
- Median home price: $180,900
- Largest university: University of Illinois at Urbana-Champaign
- Student share of population: 38%
Burlington, Vt.
- Median home price: $414,950
- Largest university: University of Vermont
- Student share of population: 34%
Boulder, Colo.
- Median home price: $1 million
- Largest university: University of Colorado Boulder
- Student share of population: 28%
The following are the best college towns for families, according to realtor.com®:
Salisbury, Md.
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Median home price: $230,000
- Largest university: Salisbury University
- Student share of population: 23%
Madison, N.J.
- Median home price: $837,050
- Largest university: Fairleigh Dickinson University
- Student share of population: 26%
Chestnut Hill, Mass.
- Median home price: $1.6 million
- Largest university: Boston College
- Student share of population: 24%
To view the top college towns for retirees, visit realtor.com®.