College Parents Buying Homes vs Rent or Dorms

Dennis Norman

A study by Coldwell Banker Real Estate LLC shows that this fall as parents said goodbye to their college-bound kids, fewer of those kids were heading to dorms or apartments that are typically associated with college housing but instead will be heading to homes their parents bought for them to live in.  In fact, 64 percent of real estate professionals in college towns surveyed said they had seen a significant number of “parent investors” buying homes for their kids to live in while attending college.

To see how college towns stack up in home price affordability, Coldwell Banker Real Estate released its new College Home Listing Report (College HLR) today, which provides the average home listing price of four-bedroom, two-bathroom properties listed for sale between April and September 2010 on in markets home to the 120 schools in the Football Bowl Subdivision. With almost two-thirds of the College HLR markets having subject homes priced less than $250,000 (78 in total), college towns prove to be a touchdown for homebuyers.

The top 10 most affordable markets in the Coldwell Banker Real Estate College Home Listing Report are (price shown is average listing price):

  1. Ball State University Muncie, Ind. $105,115
  2. University of Buffalo: Buffalo, N.Y. The State University of New York $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. $141,629
  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

“Towns that are home to major universities have a special vibe you just don’t find anywhere else,” said Jim Gillespie, chief executive officer, Coldwell Banker Real Estate and alumni of the Illinois Fighting Illini. “It’s about more than just great sports and local flavor. College towns offer rich culture and most have steady economic bases oftentimes highlighted by outstanding medical and research facilities.”

The top 10 most expensive markets in the Coldwell Banker Real Estate College Home Listing Report are (prices shown are average listing price):

  1. Stanford University Palo Alto, Calif. $1,385,652
  2. University of Hawaii Honolulu, Hawaii $833,439
  3. University of California LA Los Angeles, Calif. $833,087          University of Southern California Los Angeles, Calif. $833,087
  4. University of Colorado Boulder, Colo. $791,877
  5. Boston College Chestnut Hill, Mass. $791,408
  6. United States Naval Academy Annapolis, Md. $671,151
  7. San Jose State University San Jose, Calif. $650,111
  8. University of California Berkeley Berkeley, Calif. $636,958
  9. University of Washington Seattle, Wash. $624,338
  10. Northwestern University Evanston, Ill. $559,855


Print Friendly, PDF & Email

17 comments to College Parents Buying Homes vs Rent or Dorms

  • … [Trackback]

    […] Here you will find 73362 more Info to that Topic: […]

  • … [Trackback]

    […] Read More on to that Topic: […]

  • My spouse and i ended up being so relieved that Louis managed to round up his researching through the entire ideas he got from your own blog. It’s not at all simplistic just to find yourself giving out steps which usually the others might have been trying to sell. And we all keep in mind we have the blog owner to appreciate for that. The illustrations you made, the easy web site menu, the relationships you will make it possible to engender – it’s everything wonderful, and it is aiding our son in addition to us imagine that the matter is cool, and that’s seriously serious. Thank you for the whole lot!

  • … [Trackback]

    […] Information on that Topic: […]

  • … [Trackback]

    […] Find More to that Topic: […]

  • … [Trackback]

    […] Read More on that Topic: […]

  • This design is steller! You certainly know how to keep a reader entertained. Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Great job. I really enjoyed what you had to say, and more than that, how you presented it. Too cool!

  • With havin so much written content do you ever run into any problems of plagorism or copyright infringement? My site has a lot of exclusive content I’ve either created myself or outsourced but it seems a lot of it is popping it up all over the web without my agreement. Do you know any solutions to help protect against content from being ripped off? I’d truly appreciate it.

  • I think you have observed some very interesting details , appreciate it for the post.

  • I believe this web site holds some real fantastic info for everyone : D.

  • … [Trackback]

    […] Read More Info here on that Topic: […]

  • Greetings from Los angeles! I’m bored to tears at work so I decided to check out your website on my iphone during lunch break. I really like the information you provide here and can’t wait to take a look when I get home. I’m shocked at how fast your blog loaded on my cell phone .. I’m not even using WIFI, just 3G .. Anyhow, fantastic site!

  • … [Trackback]

    […] There you will find 92467 more Info on that Topic: […]

  • … [Trackback]

    […] Find More on that Topic: […]

  • Thank you for some other informative website. Where else could I get that type of information written in such a perfect manner? I have a undertaking that I am just now running on, and I’ve been at the glance out for such info.|

  • wow, awesome article. Cool.

  • Of course, what a magnificent site and revealing posts, I will bookmark your site.All the Best!

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>