Map Shows College Towns With Most Expensive Houses
Summary
A study by Redfin reveals that some college towns in the U.S. have very high home prices, especially in coastal areas like Santa Barbara and Boca Raton. In contrast, towns like Dayton, Ohio, have much cheaper housing. College towns are defined as areas where a significant portion of the population are students, and rising demand for homes and rentals in these areas is pushing up prices.Key Facts
- Santa Barbara, California, has the highest median home price in a college town at nearly $2 million.
- Boca Raton, Florida, has a median home price of over $820,000, making it the second most expensive college town.
- Flagstaff, Arizona, follows with a median home price of around $700,000.
- Corvallis, Oregon, and Orem, Utah, also have high home prices at $568,507 and $517,224, respectively.
- The typical U.S. home price was $439,894 in August.
- Rent in university towns has increased as well, with asking rents up nearly 3% in the past year.
- In contrast, Dayton, Ohio, offers the lowest home prices in college towns, with a median price of about $137,000.
- Syracuse, New York, and Mount Pleasant, Michigan, also have lower home prices compared to the national average.
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