20 Best College Towns to Buy an Investment Property

We narrowed down the most affordable college towns with schools that also offer low tuition and a high-quality education… educate yourself and check it out!

Johns Hopkins University/Image via iStockInvesting in a home near a college has some undeniable perks–rent prices are typically stable, there’s always a new pool of tenants looking for places to live and if you eventually decide to live in the home yourself, there are often a myriad of great amenities nearby. To help you decide where to invest your money, we narrowed down the most affordable college towns with schools that also offer low tuition and a high-quality education. Our methodology includes tuition cost and fees, the most recent U.S. News and World Report ranking, median list price for homes near the school and Walk Score.

“It’s always great to invest in a location where there is a large pool of tenants, which is exactly what you get when you invest in a property near a school like Georgia Institute of Technology,” said Redfin real estate agent Rory Haigler. “The pool of potential tenants is also stable with new students coming in every year, so a property owner really doesn’t have to worry about where they will find the next tenant. I’ve had a lot of clients looking to invest in property near Georgia Tech, but the problem is that because it’s such a hot market, homes aren’t listed often. It’s not just a great location for students to rent, but also a great option if an investor ever decides to live in their investment home, given that the school is in the heart of a major metro area with everything to offer in terms of entertainment, culture and food.”

Here are the 20 best college towns to buy an investment property:

1. Atlanta, Georgia – Georgia Institute of Technology

Median List Price: $235,000
Tuition and Fees: $32,404
U.S. News and World Report Ranking: 34
Walk Score:72

2. Chapel Hill, North Carolina – University of North Carolina–Chapel Hill

Median List Price: $175,000
Tuition and Fees: $33,916
U.S. News and World Report Ranking: 30
Walk Score: 35

3. Baltimore, Maryland – Johns Hopkins University

Median List Price: $154,900
Tuition and Fees: $50,410
U.S. News and World Report Ranking: 10
Walk Score: 69

4. St. Louis, Missouri – Washington University in St. Louis

Median List Price: $149,900
Tuition and Fees: $49,770
U.S. News and World Report Ranking: 19
Walk Score: 64

5. Columbus, Ohio – Ohio State University–Columbus

Median List Price: $155,000
Tuition and Fees: $28,229
U.S. News and World Report Ranking: 54
Walk Score: 40

6. Houston, Texas – Rice University

Median List Price: $239,900
Tuition and Fees: $43,918
U.S. News and World Report Ranking: 15
Walk Score: 48

7. Philadelphia, Pennsylvania – University of Pennsylvania

Median List Price: $179,900
Tuition and Fees: $51,464
U.S. News and World Report Ranking: 8
Walk Score: 78

8. Rochester, New York – University of Rochester

Median List Price: $114,900
Tuition and Fees: $50,142
U.S. News and World Report Ranking: 32
Walk Score: 64

9. Pittsburgh, Pennsylvania – University of Pittsburgh

Median List Price: $165,000
Tuition and Fees: $29,758
U.S. News and World Report Ranking: 68
Walk Score: 61

10. Cleveland, Ohio – Case Western Reserve University

Median List Price: $216,000
Tuition and Fees: $46,006
U.S. News and World Report Ranking: 37
Walk Score: 80

11. Austin, Texas – University of Texas–Austin

Median List Price: $154,900
Tuition and Fees: $34,676
U.S. News and World Report Ranking: 56
Walk Score: 39

12. Providence, Rhode Island – Brown University

Median List Price: $199,000
Tuition and Fees: $51,367
U.S. News and World Report Ranking: 14
Walk Score: 78

13. Madison, Wisconsin – University of Wisconsin–Madison

Median List Price: $259,900
Tuition and Fees: $32,738
U.S. News and World Report Ranking: 44
Walk Score: 48

14. Nashville, Tennessee – Vanderbilt University

Median List Price: $520,000
Tuition and Fees: $45,610
U.S. News and World Report Ranking: 15
Walk Score: 63

15. College Park, Maryland – University of Maryland–College Park

Median List Price: $289,900
Tuition and Fees: $32,045
U.S. News and World Report Ranking: 60
Walk Score: 69

16. Minneapolis, Minnesota – University of Minnesota–Twin Cities

Median List Price: $253,650
Tuition and Fees: $22,210
U.S. News and World Report Ranking: 71
Walk Score: 68

17. Provo, Utah – Brigham Young University–Provo

Median List Price: $228,450
Tuition and Fees: $5,300
U.S. News and World Report Ranking: 68
Walk Score: 47

18. Winston-Salem, North Carolina – Wake Forest University

Median List Price: $169,000
Tuition and Fees: $49,308
U.S. News and World Report Ranking: 27
Walk Score: 22

19. Ann Arbor, Michigan – University of Michigan–Ann Arbor

Median List Price: $359,900
Tuition and Fees: $43,476
U.S. News and World Report Ranking: 27
Walk Score: 50

20. Chicago, Illinois – University of Chicago

Median List Price: $325,000
Tuition and Fees: $52,491
U.S. News and World Report Ranking: 3
Walk Score: 78

Methodology:
Only schools on the U.S. News and World Report National Universities Rankings were considered. Tuition and fee cost for schools were pulled from the U.S. News and World Report National Universities Rankings. Median list prices and Walk Score for each city were from Redfin.com. 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 the other categories (.1). Only locations with median list prices under $550,000 were considered.

Interested in living in one of these cities? Fill out the form below to start the conversation with a Redfin agent!

 

Source: 20 Best College Towns to Buy an Investment Property