2455 Chabot Te, Palo Alto
Three Bay Area cities ranked among the 10 most expensive college housing markets in the nation, according to the 2011 College Home Listing Report, a study by Coldwell Banker Real Estate that ranks college towns across the country in home affordability.
Palo Alto, home to Stanford University, came in No. 2 nationally in the study with an average listing price for a three-bedroom, two-bathroom home at $1,232,070. U.C. Berkeley’s local housing market was ranked 6th with an average of $695,520 while San Jose State University’s local market ranked 9th at $541,231.
At the other end of the spectrum, San Jose State’s rival, Fresno State, is home to one of the most affordable college housing markets. A comparably sized home in that community has an average list price of $157,311.
Los Angeles’ Westwood neighborhood, home to UCLA, took the honors as the most expensive college market in the nation with an average price of $1,271,428. In the most affordable market, Memphis, Tenn., (home to University of Memphis) the average listing price is just $89,244.
The report provides the average home listing prices for three-bedroom, two-bathroom properties that were listed for sale on coldwellbanker.combetween August 2010 and August 2011 in markets home to 117 of the schools in the Football Bowl Subdivision.