A company to help compare moving costs has named Indiana as the best college town for real estate investment.
An article from Hire-A-Helper states that Indiana, PA earned its top ranking due to relatively low home prices, solid projected growth, and potentially high rental income. The study ranked 580 college towns across the United States on their real estate investment potential based on current home prices, historical and projected growth, housing availability, and potential rental income. With room and board becoming more expensive every year, the study says that some parents are considering buying a house close to their child’s college campus and renting out part of it to cover mortgage payments.
Factors considered in the study included the median home price, price changes in the last 12 months, projected growth in home prices over the next five years, favorable housing supply-to-demand ratio, and potential rental income. Based on those factors, Indiana scored 93 out of 100. The study says that the average home price is $160,500 this year, and home prices grew 12 percent over the last 12 months and are projected to grow another 12 percent over the next five years.
