A college town can be a great spot for investors. Rents are usually stable and there’s generally always a pool of tenants to choose from.
“It’s always great to invest in a location where there is a large pool of tenants, which is exactly what you get when you invest in a property near a school like Georgia Institute of Technology,” says Rory Haigler, a Redfin real estate professional. The Georgia Institute of Technology topped Redfin’s list as the best college town investment. “The pool of potential tenants is also stable with new students coming in every year, so a property owner really doesn’t have to worry about where they will find the next tenant.”
Redfin researchers tracked the best college towns for investors, factoring in affordability in homes near the school, walkability scores, and low tuition costs and fees. The following are the 10 best college towns to buy an investment property, according to the brokerage’s research:
1. Atlanta—Georgia Institute of Technology
- Median List Price: $235,000
2. Chapel Hill, N.C.—University of North Carolina-Chapel Hill
- Median list price: $175,000
3. Baltimore—Johns Hopkins University
- Median list price: $154,900
4. St. Louis—Washington University in St. Louis
- Median list price: $149,900
5. Columbus Ohio--Ohio State University-Columbus
- Median List Price: $155,000
6. Houston—Rice University
- Median List Price: $239,900
7. Philadelphia—University of Pennsylvania
- Median List Price: $179,900
8. Rochester, N.Y.—University of Rochester
- Median List Price: $114,900
9. Pittsburgh—University of Pittsburgh
- Median List Price: $165,000
10. Cleveland—Case Western Reserve University
- Median List Price: $216,000
Source: “The 20 Best College Towns to Buy an Investment Property,” Redfin Research Center (April 14, 2017)
