23 College Towns Where Buying a Home Costs Less Than Student Room and Board

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.

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.

• Average home price: $234,799
• Cost of room and board for 3 years: $50,904
• 3-year savings when buying a home: $29,742

• Average home price: $137,909
• Cost of room and board for 3 years: $38,556
• 3-year savings when buying a home: $18,805

• Average home price: $365,150
• Cost of room and board for 3 years: $44,514
• 3-year savings when buying a home: $16,696

• Average home price: $227,250
• Cost of room and board for 3 years: $44,520
• 3-year savings when buying a home: $16,353

• Average home price: $151,722
• Cost of room and board for 3 years: $31,032
• 3-year savings when buying a home: $15,171

• Average home price: $228,376
• Cost of room and board for 3 years: $42,888
• 3-year savings when buying a home: $15,006

• Average home price: $243,408
• Cost of room and board for 3 years: $50,262
• 3-year savings when buying a home: $13,803

• Average home price: $226,684
• Cost of room and board for 3 years: $37,674
• 3-year savings when buying a home: $13,631

• Average home price: $242,686
• Cost of room and board for 3 years: $39,120
• 3-year savings when buying a home: $12,273

• Average home price: $367,886
• Cost of room and board for 3 years: $49,659
• 3-year savings when buying a home: $11,772

• Average home price: $244,928
• Cost of room and board for 3 years: $40,260
• 3-year savings when buying a home: $10,481

• Average home price: $274,455
• Cost of room and board for 3 years: $41,628
• 3-year savings when buying a home: $9,489

• Average home price: $222,435
• Cost of room and board for 3 years: $35,964
• 3-year savings when buying a home: $8,965

• Average home price: $256,012
• Cost of room and board for 3 years: $42,816
• 3-year savings when buying a home: $8,144

• Average home price: $315,409
• Cost of room and board for 3 years: $43,800
• 3-year savings when buying a home: $8,022

• Average home price: $252,920
• Cost of room and board for 3 years: $39,144
• 3-year savings when buying a home: $4,673

• Average home price: $218,582
• Cost of room and board for 3 years: $34,992
• 3-year savings when buying a home: $4,080

• Average home price: $221,944
• Cost of room and board for 3 years: $33,300
• 3-year savings when buying a home: $3,946

• Average home price: $262,020
• Cost of room and board for 3 years: $38,757
• 3-year savings when buying a home: $3,067

• Average home price: $222,245
• Cost of room and board for 3 years: $32,940
• 3-year savings when buying a home: $2,947

• Average home price: $230,630
• Cost of room and board for 3 years: $41,814
• 3-year savings when buying a home: $2,884

• Average home price: $376,278
• Cost of room and board for 3 years: $40,785
• 3-year savings when buying a home: $404

• 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.