SEATTLE, WA - Investing in a home near a college has some undeniable perks - rent prices are typically stable and there’s always a new pool of tenants looking for rentals. Redfin, the next-generation real estate brokerage, narrowed down the most affordable college towns near schools that offer low tuition, a high-quality education and walkability.
Redfin’s methodology includes median list price for homes near the school, tuition cost and fees, the most recent U.S. News and World Report ranking and data from Walk Score, a Redfin company.
“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,” said Redfin real estate agent Rory Haigler. “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. I’ve had a lot of clients looking to invest in property near Georgia Tech, but the problem is that because it’s such a hot market, homes aren’t listed often.”
Here are the 20 best college towns to buy an investment property:
1. Atlanta, Georgia
2. Chapel Hill, North Carolina
3. Baltimore, Maryland
4. St. Louis, Missouri
5. Columbus, Ohio
6. Houston, Texas
7. Philadelphia, Pennsylvania
8. Rochester, New York
9. Pittsburgh, Pennsylvania
10. Cleveland, Ohio
11. Austin, Texas
12. Providence, Rhode Island
13. Madison, Wisconsin
14. Nashville, Tennessee
15. College Park, Maryland
16. Minneapolis, Minnesota
17. Provo, Utah
18. Winston-Salem, North Carolina
19. Ann Arbor, Michigan
20. Chicago, Illinois
To read the full report visit: Redfin.com
Redfin is the next-generation real estate brokerage, combining its own full-service agents with modern technology to redefine real estate in the consumer’s favor. Redfin serves more than 80 major metro areas across the U.S. The company has closed more than $40 billion in home sales through 2016.