Most Expensive College Town in the US
The annual Coldwell Banker College Home Price Comparison Index (HPCI) compares home prices of typical 2,200-square-feet homes. Applying the data from the HPCI to the home towns of 119 Division 1-A college football programs, yields the most expensive college town in the US.
For the second year in a row, Palo Alto has been named the most expensive college town in the United States by the real estate firm Coldwell Banker, which compared the prices. Palo Alto was at the top of the list with an average price of $1.6 million for a 2,200-square-foot home. The second annual found that more than one-third of the markets that are home to the 119 Division I-A schools feature 2,200 square foot homes priced at or below the national median existing-home price of $225,000.
The top five most expensive college towns are all in California. Los Angeles was second, at $1.5 million and counted twice because it is home to UCLA and the University of Southern California. San Jose was fourth at $1.4 million and Berkeley fifth at almost $1.3 million.
“It is no surprise to us that Palo Alto would come out on top,” said Avram Goldman, president of Coldwell Banker Residential Brokerage in the Bay Area. “Palo Alto is a great place to live, largely because of its outstanding quality of life, great schools, wonderful restaurants and numerous activities surrounding Stanford, not the least of which is great sports.”
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