Coldwell Banker issued a report yesterday about the relative affordability of America's 'college towns.'
Tulsa Oklahoma get's top billing:
TULSA, OKLA., TOPS COLDWELL BANKER® STUDY AS NATION'S MOST AFFORDABLE COLLEGE TOWN but the news release mentions Columbus Ohio prominantly:
"Columbus, Ohio, home to Bowl Series Championship leader Ohio State University, was number 62 on the affordability ranking at $251,364, approximately $108,000 less than the national average of $359,779 for the 119 studied college markets. "
Big Ten Conference Price Per the Coldwell Banker® College Home Price Comparison Index (HPCI):
"Perdue" that's what it says... Isn't it Purdue? Purdue in West Lafayette, IN 2006 Avg. Price $202,000
Indiana - Bloomington, IN 2006 - Avg. Price $203,963
Iowa - Iowa City, IA 2006 - Avg. Price $208,691
Illinois - Champaign, IL 2006 - Avg. Price $229,650
Michigan State - East Lansing, MI 2006 - Avg. Price $246,375
Ohio State - Columbus, OH 2006 - Avg. Price $251,364
Wisconsin - Madison, WI 2006 - Avg. Price $279,500
Penn State - State College, PA 2006 - Avg. Price $306,950
Michigan - Ann Arbor, MI 2006 - Avg. Price $324,500
Minnesota - Minneapolis, MN 2006 - Avg. Price $421,433
Northwestern - Evanston, IL 2006 - Avg. Price $715,125
Conference Average Price $318,755
"College towns have so much to offer residents, such as employment, continuing education, cultural opportunities and, of course, sports,” says Jim Gillespie, president and chief executive officer of Coldwell Banker Real Estate Corporation. “The social and economic draw of these communities is enticing. Many of these markets are very attractive to Baby Boomers who want to downsize or retire from urban areas, as well as first-time home buyers who are just entering the marketplace and realizing how far their money can go."
Of course Ohio State is so much more to Columbus than just a football team, there's basketball and lots more sports. Ohio State University is a whole community within Columbus.
Around the US, the colleges in the least expensive college towns are Tulsa, Southern Miss, Ball State, TCU, Louisiana-Monroe, Houston, Rice, Texas Tech, Utah State, Arkansas State according to the Coldwell Banker® College Home Price Comparison Index (HPCI.) The highest 2006 average price among those towns is $170,575 in Jonesboro Arkansas.
It is no surprise that schools in larger urban areas have higher average sale priced homes... The colleges in the most expensive college towns are Stanford, UCLA, USC, San Jose State, California, Hawaii, Boston College, Northwestern, Florida International and Miami according to the Coldwell Banker® College Home Price Comparison Index (HPCI.) Miami home of both Florida International and Miami were 2006 average sale price $690,855, the most affordable of the 10 least affordable accoring to a list in the press release. The highest priced college town is Palo Alto, California with a 2006 average sale price of $1,652,042.
Columbus Ohio, affordable for the 15th largest US city... and there's a great football team in town.
I am not affiliated with Coldwell Banker, I just love their Home Price Comparison Index (HPCI.) I am with the number one real estate company in Columbus, Ohio HER Real Living, the graphic above is an HER Real Living image.
This post provided by Maureen McCabe HER Realtors*
Contact Maureen McCabe of HER Realtors* - 614.388.8249
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Information is deemed to be accurate but should be verified to your satisfaction. Information provided herein is supplied by several sources and is subject to change without notice. Opinions expressed are solely those of Maureen McCabe.