Affordable College Towns in the U.S.

Recently on the PRM blog, we talked about the benefits of purchasing a second home for college students. Although there are plenty of benefits to owning a house versus renting a dorm, such as investment opportunities and income strategies, homeowners should still take into consideration the affordability of various college towns.

Have you considered the size of the college town or median income? The crime rate, location, and community resources are all factors that affect how affordable a town is. Here are a few cities that won't break the bank.

Tempe, AZ

• Major Universities: Arizona State University, University of Phoenix
• Population:185,038
• Closest Major Airport: Phoenix Sky Harbor International
• Median Household Income:$48,183
• Median Home Value: $290,200

Charleston, WV

• Major Universities: University of Charleston
• Population: 50,404
• Closest Major Airport: Yeager Airport
• Median Household Income: $48,959
• Median Home Value: $109,900

Jackson, MS

• Major Universities: Jackson State University
• Population: 170,393
• Closest Major Airport: Jackson-Medgar Wiley Evers International Airport
• Median Household Income:$35,308
• Median Home Value: $73,148

Syracuse, NY

• Major Universities: Syracuse University
• Population: 143,396
• Closest Major Airport: Syracuse Hancock Intl Airport
• Median Household Income: $31,566
• Median Home Value: $89,000

Eugene, OR

• Major Universities: University of Oregon
• Population: 168,916
• Closest Major Airport: Portland International Airport
• Median Household Income: $42,715
• Median Home Value: $315,100

Colorado Springs, CO

• Major Universities: University of Colorado Springs
• Population: 464,474
• Closest Major Airport: Denver International Airport
• Median Household Income: $54,228
• Median Home Value: $293,500

Columbia, MO

• Major Universities: Columbia College, University of Missouri
• Population: 121,717
• Closest Major Airport: Lambert-St. Louis International Airport
• Median Household Income: $33,729
• Median Home Value: $179,700

Augusta, ME

• Major Universities: University of Maine at Augusta, Purdue University Global Augusta Campus
• Population: 18,594
• Closest Major Airport: Bangor International Airport
• Median Household Income: $38,263
• Median Home Value: $141,600

Lincoln, NE

• Major Universities: University of Nebraska-Lincoln, Union College
• Population: 284,736
• Closest Major Airport: Kansas City International Airport
• Median Household Income: $56,160
• Median Home Value: $183,800

Helena, MT

• Major Universities: Carroll College, Helena College University of Montana
• Population: 31,429
• Closest Major Airport: Great Falls International Airport
• Median Household Income: $50,311
• Median Home Value: $254,600

Springfield, MO

• Major Universities: Missouri State University, Drury University, Evangel University
• Population: 167,376
• Closest Major Airport: Kansas City International Airport
• Median Household Income: $29,563
• Median Home Value: $139,900

Mobile, AL

• Major Universities: University of South Alabama, University of Mobile
• Population: 190,265
• Closest Major Airport: Pensacola International Airport
• Median Household Income: $46,023
• Median Home Value: $119,300

Toledo, OH

• Major Universities: University of Toledo, Mercy College of Ohio
• Population: 276,491
• Closest Major Airport: Bishop International Airport
• Median Household Income: $50,389
• Median Home Value: $70,000

Tucson, AZ

• Major Universities: University of Arizona
• Population: 535,677
• Closest Major Airport: Tucson International Airport
• Median Household Income: $48,676
• Median Home Value: $189,200

OKC, OK

• Major Universities: Oklahoma City University, OSU-OKC
• Population: 643,648
• Closest Major Airport: Will Rogers World Airport
• Median Household Income: $47,004
• Median Home Value: $131,200

Ready to make the move? Contact a Mortgage Advisor today to learn more about your next steps toward a second home!