Nov. 6, 2006 - College Towns Columbus Ohio

Coldwell Banker issued a report last week about the relative affordability of America's 'college towns.' 

Tulsa Oklahoma get's top billing:

TULSA, OKLA., TOPS COLDWELL BANKER® STUDY AS NATION'S MOST AFFORDABLE COLLEGE TOWN  but the Coldwell Banker news release mentions Columbus Ohio prominantly: 

"Columbus, Ohio, home to Bowl Series Championship leader Ohio State University, was number 62 on the affordability ranking at $251,364, approximately $108,000 less than the national average of $359,779 for the 119 studied college markets. "

I am not affiliated with Coldwell Banker, I just love their Home Price Comparison Index (HPCI.) I am with the number one real estate company in Columbus, Ohio HER Real Living, the graphic above is an HER Real Living image. 

Big Ten Conference Price Per the Coldwell Banker® College Home Price Comparison Index (HPCI):

"Perdue*" ... Isn't it Purdue?  Purdue in West Lafayette, IN 2006 Avg. Price  $202,000
 
Indiana -  Bloomington, IN 2006 - Avg. Price $203,963
 
Iowa -  Iowa City, IA 2006 - Avg. Price $208,691
 
Illinois -  Champaign, IL 2006 - Avg. Price $229,650
 
Michigan State -  East Lansing, MI 2006 - Avg. Price $246,375
 
Ohio State -  Columbus, OH  2006 - Avg. Price  $251,364
 
Wisconsin -  Madison, WI 2006 - Avg. Price $279,500
 
Penn State -  State College, PA 2006 - Avg. Price  $306,950
 
Michigan -  Ann Arbor, MI 2006 - Avg. Price  $324,500
 
Minnesota -  Minneapolis, MN 2006 - Avg. Price $421,433
 
Northwestern - Evanston, IL 2006 - Avg. Price $715,125
 
Conference Average Price  $318,755 

* They've corrected the spelling.  I saw something else this week about Purdue it spelled Perdue like the chickens...

"College towns have so much to offer residents, such as employment, continuing education, cultural opportunities and, of course, sports,” says Jim Gillespie, president and chief executive officer of Coldwell Banker Real Estate Corporation. “The social and economic draw of these communities is enticing. Many of these markets are very attractive to Baby Boomers who want to downsize or retire from urban areas, as well as first-time home buyers who are just entering the marketplace and realizing how far their money can go."

Ohio State is so much more to Columbus than just a football team, there's basketball and lots more sports. Ohio State University is a whole community within Columbus.

Around the US, the colleges in the least expensive college towns are Tulsa, Southern Miss, Ball State, TCU, Louisiana-Monroe, Houston, Rice, Texas Tech, Utah State, Arkansas State according to the Coldwell Banker® College Home Price Comparison Index (HPCI.) The highest 2006 average price among those college towns is $170,575 in Jonesboro Arkansas. 

It is no surprise that schools in larger urban areas have higher average sale priced homes... The colleges in the most expensive college towns are Stanford, UCLA, USC, San Jose State, California, Hawaii, Boston College, Northwestern, Florida International and Miami according to the Coldwell Banker® College Home Price Comparison Index (HPCI.) Miami home of both Florida International and Miami were 2006 average sale price $690,855, the most affordable of the 10 least affordable accoring to a list in the press release.  The highest priced college town is Palo Alto, California with a 2006 average sale price of $1,652,042.

Columbus Ohio, affordable for the 15th largest US city... and there's a great football team in town.