We already know that student housing can be a lucrative investment – especially in the right location. Recently, the folks over at Redfin looked at nearly 200 public colleges & universities across the country to and compared the monthly dorm rate with the median condo mortgage in their respective cities. Then they ranked the colleges by enrollment to narrow down their list to the 15 most popular ones. Now that the secret’s out, are there any good deals left to be had?
“Homeownership can be a great way to build wealth…Students will build equity that they can one day use as a down payment on a move-up home or to pay off student loans. If they choose not to sell right away, they’ll have a piece of property that’s ripe for renting, as there are always new college students looking for rentals.” Said Misty Hurley, a Redfin real estate agent in Tucson, Arizona.
The top 15 colleges/universities and their locations are:
- University of Arizona – Tucson
- Georgia State – Atlanta
- University of South Carolina – Columbia
- Kent State – Kent, OH
- Louisiana State University and Agricultural & Mechanical College – Baton Rouge
- University at Buffalo – Buffalo, NY
- University of Kentucky – Lexington, KY
- University of Oklahoma – Norman, OK
- University of Texas – El Paso
- University of Texas (Dallas) – Richardson, TX
- University of Akron – Akron, OH
- University of Delaware – Newark, DE
- University of North Carolina – Greensboro, NC
- Sam Houston State University – Huntsville, TX
- Miami University – Oxford, OH
Click here to read the full story on Redfin.
