Industry News

Index ranks housing affordability in college towns

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

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...