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Coldwell Banker Releases Prices Of Homes In College Markets

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Real estate company Coldwell Banker has released its annual list of average home listings in college football towns (FBS). The average prices are for a three-bedroom, two bathroom home.

Here are some of the highlights.

The cheapest home in a college football market is Memphis, Tenn.

At an average of $89,244, it's the only market that features an average listing of less than $100,000. After Memphis, the next five markets are all in the MAC: Muncie, Ind. (Ball State) is #2 at $107,346, Ypsilanti, Mich. (Eastern Michigan) is #3 at $107,458, Toledo is #4 at $112,688, Kalamazoo, Mich. (Western Michigan) is $116,455 and Buffalo is $123,212.

I'm not a real estate expert, so some things definitely surprised me. Fort Worth, Texas (home of TCU) came in at 8th cheapest with an average listing of $128,491, cheaper than the likes of Lubbock, Texas ($133,136), home of Texas Tech and Moscow, Idaho ($140,182), where the University of Idaho is located.

I've been to both South Bend, Indiana (Notre Dame), and El Paso, Texas (UTEP) and I'm surprised that the average home in South Bend was listed for only $1,500 more than El Paso ($152,106 vs. $150,644). As far as rivalries go, houses by Oklahoma State (Stillwater) were about $9,000 less than houses by the University of Oklahoma (Norman).

Although they are so close to each other, UNC (Chapel Hill, NC) is much more expensive ($327,888) than homes near Duke (Durham, NC), which average a listing of $182,392.

There's not a lot of shock in the most expensive college towns: Led by the Westwood area of Los Angeles (UCLA) and Palo Alto, Calif (Stanford), which average listings of $1,271,428 and $1,232,070, according to Coldwell Banker. What college town would I most want to live for my money?

I gotta go with Austin, Texas, my favorite college towns, which is the 88th most expensive town out of the 120 FBS schools. The average three-bedroom, two bathroom home in the land of the Longhorns was listed for $248,918.

Questions?  Comments?