Home prices in the United States have climbed sharply over the last five years, driven by a mix of low housing supply, high demand, and major economic shifts during and after the pandemic. Record-low mortgage rates in 2020 and 2021 fueled intense bidding wars, pushing prices up at the fastest pace in modern history. Even as rates later rose to multidecade highs, limited inventory kept prices from falling significantly. Many homeowners stayed put rather than give up their low-rate mortgages, tightening supply even further. Remote work also reshaped demand, sending buyers into suburbs and smaller cities and boosting prices nationwide. As a result, the typical U.S. home now costs more than 40% above its pre-2020 level, reflecting one of the most dramatic housing price run-ups in decades.
If you want a beautiful home but don’t want to pay sky-high prices, college towns may be the perfect options. The nation’s most affordable college towns offer nice locations for bargain-basement prices. To uncover this list of affordable college towns, 247Tempo.com reviewed five-year data on median household value and median household income from the U.S. Census Bureau’s 2022 American Community Survey. Cities, towns, and Census-designated places were ranked based on the ratio of median home value to median household income. Only places with at least 10,000 residents where at least 15% of the population is enrolled in college or graduate school were considered. Now, let’s check them out!
50. Cape Girardeau, Missouri
- Median home value: $177,500 (3.4 times income)
- Median household income: $51,671
- Total population: 39,795
49. Middletown, Connecticut
- Median home value: $257,800 (3.4 times income)
- Median household income: $75,120
- Total population: 48,152
48. Waterville, Maine
- Median home value: $154,400 (3.4 times income)
- Median household income: $45,208
- Total population: 15,785
47. Moorhead, Minnesota
- Median home value: $234,300 (3.4 times income)
- Median household income: $68,680
- Total population: 44,443
46. Winona, Minnesota
- Median home value: $176,600 (3.4 times income)
- Median household income: $52,500
- Total population: 26,083
45. Elizabethtown, Pennsylvania
- Median home value: $220,100 (3.3 times income)
- Median household income: $66,640
- Total population: 11,805
44. Tahlequah, Oklahoma
- Median home value: $163,300 (3.3 times income)
- Median household income: $49,444
- Total population: 16,389
43. Duluth, Minnesota
- Median home value: $209,800 (3.3 times income)
- Median household income: $63,545
- Total population: 86,772
42. Maryville, Missouri
- Median home value: $162,100 (3.3 times income)
- Median household income: $49,144
- Total population: 10,691
41. Stevens Point, Wisconsin
- Median home value: $176,400 (3.3 times income)
- Median household income: $53,611
- Total population: 25,549
40. Champaign, Illinois
- Median home value: $191,200 (3.3 times income)
- Median household income: $58,273
- Total population: 88,628
39. Glassboro, New Jersey
- Median home value: $256,900 (3.3 times income)
- Median household income: $78,518
- Total population: 23,014
38. Kirksville, Missouri
- Median home value: $133,100 (3.2 times income)
- Median household income: $41,089
- Total population: 17,533
37. St. Peter, Minnesota
- Median home value: $217,400 (3.2 times income)
- Median household income: $67,255
- Total population: 12,039
36. Troy, New York
- Median home value: $177,100 (3.2 times income)
- Median household income: $54,837
- Total population: 51,268
35. Keene, New Hampshire
- Median home value: $221,400 (3.2 times income)
- Median household income: $69,381
- Total population: 22,907
34. Edwardsville, Illinois
- Median home value: $277,000 (3.2 times income)
- Median household income: $87,094
- Total population: 26,622
33. Plattsburgh, New York
- Median home value: $172,900 (3.1 times income)
- Median household income: $55,049
- Total population: 19,907
32. Kalamazoo, Michigan
- Median home value: $152,700 (3.1 times income)
- Median household income: $48,649
- Total population: 73,342
31. Indiana, Pennsylvania
- Median home value: $124,100 (3.1 times income)
- Median household income: $40,013
- Total population: 14,082
30. Lubbock, Texas
- Median home value: $181,600 (3.1 times income)
- Median household income: $58,734
- Total population: 258,190
29. Berea, Kentucky
- Median home value: $167,200 (3.1 times income)
- Median household income: $54,481
- Total population: 15,404
28. Bourbonnais, Illinois
- Median home value: $238,000 (3.1 times income)
- Median household income: $77,738
- Total population: 18,125
27. Normal, Illinois
- Median home value: $194,400 (3.0 times income)
- Median household income: $63,965
- Total population: 52,920
26. Macomb, Illinois
- Median home value: $103,800 (3.0 times income)
- Median household income: $35,064
- Total population: 15,207
25. Meadville, Pennsylvania
- Median home value: $136,200 (3.0 times income)
- Median household income: $46,157
- Total population: 12,929
24. Huntington, West Virginia
- Median home value: $114,800 (2.9 times income)
- Median household income: $39,066
- Total population: 46,637
23. Canyon, Texas
- Median home value: $198,600 (2.9 times income)
- Median household income: $67,631
- Total population: 15,089
22. Pittsburgh, Pennsylvania
- Median home value: $171,800 (2.9 times income)
- Median household income: $60,187
- Total population: 303,843
21. Williamsport, Pennsylvania
- Median home value: $136,400 (2.8 times income)
- Median household income: $48,388
- Total population: 27,755
20. Binghamton, New York
- Median home value: $117,400 (2.8 times income)
- Median household income: $42,031
- Total population: 47,617
19. Pella, Iowa
- Median home value: $240,100 (2.8 times income)
- Median household income: $86,025
- Total population: 10,556
18. Oneonta, New York
- Median home value: $170,900 (2.7 times income)
- Median household income: $62,188
- Total population: 14,097
17. Syracuse, New York
- Median home value: $117,900 (2.7 times income)
- Median household income: $43,584
- Total population: 146,134
16. Waverly, Iowa
- Median home value: $211,000 (2.7 times income)
- Median household income: $78,278
- Total population: 10,399
15. Marshall, Missouri
- Median home value: $137,100 (2.6 times income)
- Median household income: $52,171
- Total population: 13,687
14. Carnot-Moon, Pennsylvania
- Median home value: $231,900 (2.6 times income)
- Median household income: $89,573
- Total population: 13,345
13. Charleston, Illinois
- Median home value: $122,700 (2.6 times income)
- Median household income: $47,533
- Total population: 17,795
12. Tiffin, Ohio
- Median home value: $123,600 (2.5 times income)
- Median household income: $48,869
- Total population: 17,894
11. Emporia, Kansas
- Median home value: $125,200 (2.5 times income)
- Median household income: $49,661
- Total population: 24,118
10. Portales, New Mexico
- Median home value: $124,000 (2.5 times income)
- Median household income: $49,313
- Total population: 12,085
9. Brent, Florida
- Median home value: $106,500 (2.4 times income)
- Median household income: $44,053
- Total population: 22,969
4. University Heights, Ohio
- Median home value: $209,800 (2.3 times income)
- Median household income: $91,960
- Total population: 13,649
3. Atchison, Kansas
- Median home value: $113,900 (2.3 times income)
- Median household income: $50,344
- Total population: 10,834
2. Muncie, Indiana
- Median home value: $88,000 (2.2 times income)
- Median household income: $40,309
- Total population: 65,167
1. Geneva, New York
- Median home value: $123,100 (1.9 times income)
- Median household income: $63,602
- Total population: 12,670
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