Industry News

College-town real estate gets downright affordable in Texas

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Coldwell Banker today announced that its first-ever College Market Home Price Comparison Index has found Lubbock, Texas, the home of the Red Raiders, to be the most affordable college town in the nation, with an average home price of $164,133. At the other end of the scale was Palo Alto, Calif., home of Stanford University, which topped the charts as the most expensive college town in the index at $1,550,000. The College Market HPCI evaluated average home values for a single-family dwelling in a middle-management community measuring approximately 2,200 square feet with four bedrooms, two and one-half baths, a family room (or equivalent) and two-car garage. The snapshot study examined 59 markets that are home to the premier college football programs in the country. "College towns can be great places to live because they are family-friendly, lively communities with an abundance of activities ranging from sports and entertainment to high culture," said Jim Gillespie, president and chie...