Attending college has become increasingly unaffordable, but it’s not just tuition that’s rising — room and board costs have surged, too. A new analysis by Mortgage Research Network found that in nearly 1 in 5 college towns, it’s now cheaper to buy a home than to pay for dorms or off-campus housing over a student’s college career.
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The study compared housing costs at 121 universities nationwide, factoring in mortgage payments, property taxes, insurance, closing costs and maintenance. It also accounted for rental income and expected home appreciation. In 23 college towns, the total cost of buying a home came out lower than the cost of renting or living in a dorm.
Here are the college towns where buying a home could save students and families money — and potentially build equity while earning a degree.
Temple University: Philadelphia
- Average home price: $234,799
- Cost of room and board for 3 years: $50,904
- 3-year savings when buying a home: $29,742
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Marshall University: Huntington, West Virginia
- Average home price: $137,909
- Cost of room and board for 3 years: $38,556
- 3-year savings when buying a home: $18,805
University of Delaware: Newark, Delaware
- Average home price: $365,150
- Cost of room and board for 3 years: $44,514
- 3-year savings when buying a home: $16,696
University of Alabama: Tuscaloosa, Alabama
- Average home price: $227,250
- Cost of room and board for 3 years: $44,520
- 3-year savings when buying a home: $16,353
University of Memphis: Memphis, Tennessee
- Average home price: $151,722
- Cost of room and board for 3 years: $31,032
- 3-year savings when buying a home: $15,171
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Louisiana State University: Baton Rouge, Louisiana
- Average home price: $228,376
- Cost of room and board for 3 years: $42,888
- 3-year savings when buying a home: $15,006
University at Buffalo: Buffalo, New York
- Average home price: $243,408
- Cost of room and board for 3 years: $50,262
- 3-year savings when buying a home: $13,803
University of South Carolina-Columbia: Columbia, South Carolina
- Average home price: $226,684
- Cost of room and board for 3 years: $37,674
- 3-year savings when buying a home: $13,631
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Kent State University: Kent, Ohio
- Average home price: $242,686
- Cost of room and board for 3 years: $39,120
- 3-year savings when buying a home: $12,273
Rowan University: Glassboro, New Jersey
- Average home price: $367,886
- Cost of room and board for 3 years: $49,659
- 3-year savings when buying a home: $11,772
University of Pittsburgh: Pittsburgh
- Average home price: $244,928
- Cost of room and board for 3 years: $40,260
- 3-year savings when buying a home: $10,481
West Virginia University: Morgantown, West Virginia
- Average home price: $274,455
- Cost of room and board for 3 years: $41,628
- 3-year savings when buying a home: $9,489
University of Louisiana at Lafayette: Lafayette, Louisiana
- Average home price: $222,435
- Cost of room and board for 3 years: $35,964
- 3-year savings when buying a home: $8,965
Ohio State University: Columbus, Ohio
- Average home price: $256,012
- Cost of room and board for 3 years: $42,816
- 3-year savings when buying a home: $8,144
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University of Illinois Chicago: Chicago
- Average home price: $315,409
- Cost of room and board for 3 years: $43,800
- 3-year savings when buying a home: $8,022
University of Cincinnati: Cincinnati
- Average home price: $252,920
- Cost of room and board for 3 years: $39,144
- 3-year savings when buying a home: $4,673
University of Southern Mississippi: Hattiesburg, Mississippi
- Average home price: $218,582
- Cost of room and board for 3 years: $34,992
- 3-year savings when buying a home: $4,080
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Arkansas State University: Jonesboro, Arkansas
- Average home price: $221,944
- Cost of room and board for 3 years: $33,300
- 3-year savings when buying a home: $3,946
Liberty University: Lynchburg, Virginia
- Average home price: $262,020
- Cost of room and board for 3 years: $38,757
- 3-year savings when buying a home: $3,067
University of Wisconsin: Milwaukee
- Average home price: $222,245
- Cost of room and board for 3 years: $32,940
- 3-year savings when buying a home: $2,947
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University of Illinois Urbana-Champaign: Champaign, Illinois
- Average home price: $230,630
- Cost of room and board for 3 years: $41,814
- 3-year savings when buying a home: $2,884
University of South Florida: Tampa, Florida
- Average home price: $376,278
- Cost of room and board for 3 years: $40,785
- 3-year savings when buying a home: $404
Vermont State University: Randolph, Vermont
- Average home price: $346,372
- Cost of room and board for 3 years: $38,694
- 3-year savings when buying a home: $204
Editor’s note: Data sourced from Mortgage Research Network and accurate as of Aug. 14, 2025.
Editor’s note: Photos are for representational purposes only and might not reflect the exact locations listed in this article.
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This article originally appeared on GOBankingRates.com: 23 College Towns Where Buying a Home Costs Less Than Student Room and Board
