How top-ranked colleges fare on the real estate field
College football kicks off this weekend, as crazed fans gather to cheer on their favorite teams. But how do the cities hosting these colleges fare in the real estate market? The Wall Street Journal answers that question in the below excerpt:
The findings put two schools at the top of the real-estate rankings: Tuscaloosa, Ala., home of No. 1-ranked Crimson Tide, had the highest year-to-year increase in listing price, rising 20%. Eugene, Ore., with the No. 3-ranked Ducks, boasts the highest median listing price at $260,000.
Taken as a whole, the listing prices of the top cities are modest, says Jed Kolko, chief economist at Trulia. "Universities that are big enough to support a top-ranked football team are rarely located in expensive areas," he says. "Many big state universities were originally focused on agricultural and technical education, and therefore were located outside the state's biggest city."