7 Best College Towns for Investors

August 15, 2011

Housing markets with universities and colleges are often considered great buys for real estate investors, typically attracting a steady flow of renters.

“Housing demand in college towns is generally high and vacancy rates are usually low," says Steve Berkowitz, CEO of Move Inc. “Combine the supply and demand ratio with rising admissions and the five percent rise in rental rates expected by the end of the year, and rental property in college towns can be a smart option for the right investor.”

The following is a list of seven strong college towns for real estate investments, according to Move.com.

1. Boston

Median list price: $335,000

Average two-bedroom rent: $3,122

Average mortgage: $1,370

 

2. Nashville 

Median list price: $189,000

Average two-bedroom rent: $949 

Average mortgage: $770

 

3. Chicago 

Median list price: $199,900 

Average two-bedroom rent: $1,780 

Average mortgage: $820

 

4. Washington 

Median list price: $375,000

Average two-bedroom rent: $3,086 

Average rent: $1,530

 

5. Houston

Median list price: $174,900 

Average two-bedroom rent: $1,218 

Average mortgage: $710

 

6. South Bend, Ind. 

Median list price: $112,900 

Average two-bedroom rent: $790 

Average mortgage: $460

 

7. Atlanta, Ga.

Median list price: $159,600 

Average two-bedroom rent: $1,236 

Average mortgage: $650

 

Find out more top college-town real estate markets at Move.com

- REALTOR® Magazine Daily News