College Football Towns....How Affordable Are They?

As we near the end of the regular football season (Ohio State and Michigan will meet for their annual rivalry for the 105th time on Saturday) and enter the bowl series and basketball seasons it seems appropriate that Coldwell Banker should release its annual College Home Price Comparison Index (HPCI) for the major college towns' home affordability.

 This index takes a look at the home towns of 119 Football Bowl (1-A) Schools. Most affordable home town is Akron, Ohio.  Most expensive is Palo Alto, CA.  The index is meaningful because it's fun for alumni to take a look at their alma mater's city and because increasingly baby boomer are returning to live near their alma maters given the rich and vibrant communities that tend to exist in those cities.  Also, many are buying second homes so that their college student can live in the home and roommates can help cover the cost of the payments.

 65% of the schools were found to be in towns with nicely sized homes which averaged $300,000 or lower making a purchase a win-win!

Coldwell Banker also releases an annual Home Price Comparison Index for major markets throughout the United  States.

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