Industry News

Index ranks housing affordability in college towns

Palo Alto, Calif., home to Stanford University, fetches top dollar

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Many loyal alumni continue to support their college football teams long after graduation -- in some cases traveling long distances to attend big games -- and Coldwell Banker has released an index to show how much it costs to buy a home in those college towns. The Coldwell Banker College Home Price Comparison Index, found that about one-third of the markets that are home to the 199 Division I-A schools feature 2,200-square-foot homes priced at or below the national median existing-home price of $225,0001. The index found that Tulsa, Okla., home to the University of Tulsa Golden Hurricanes, ranks as the most affordable college town in the study, with an average home price of $148,575. Palo Alto, Calif., home to the Stanford University Cardinals, emerged for the second year in a row as the most expensive college town in the index at $1.65 million. The Mid-American conference ranked as the most affordable league with homes priced at $221,541, while the PAC-10 was the most expensive confe...