Back to school: Why college towns aren’t just for students
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For landlords, owning property in college towns denotes stable rental returns, regardless of the state of the economy. Colleges provide a steady source of high quality, high paying jobs for the local economy. Recently, a large number of the unemployed have also gone back to school, increasing demand for student housing.
Accompanying this increase in demand is a national increase in rents caused by the financial crisis. Over the past 12 months, rents have risen nationally by about 5%, per Trulia, and are anticipated to continue climbing. Part of the larger demand for rental housing, rental prices in college towns are also expected to rise.
With home prices remaining low and rents continuing to increase, now is the time for buyers looking to invest in college towns. Coldwell Banker’s College Home Listing Report for 2011 indicates that the average three-bedroom, two-bathroom home sold for less than $200,000 in two-thirds of the college markets, and less than $150,000 in a quarter of college towns. A final tip: the closer to campus the better.
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About The Author
Mary Balash
is a past member of the first tuesday Editorial Staff.
![studying2[1]](http://firsttuesdayjournal.com/wp-content/uploads/studying21-106x75.jpg)
Increasingly, less students and parents can afford a college education and related costs e.g. the student’s rent. Part time jobs available for students generally don’t pay enough to pay for their college education. It is foreseeable in the future more and more students will take college courses on the Internet then go to a designated place to be tested by a proctor to receive credit toward a degree or other certification.
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