Local News

Austin Business Journal, March 12, 2008

Texas ranks high when it comes to home values in college towns, according to College Real Estate LLC.

"When it comes to bragging rights for attractive college real estate markets, Utah and Texas are the biggest winners," says Stuart Frazier, co-founder and director of client relations at Arlington, Texas-based College Real Estate.

The College Scorecard looked at 291 markets ranked by the Office of Federal Housing Enterprise Oversight and matched them with the 321 schools that have NCAA Division I men's basketball programs.

The three top spots on the real estate list are: Thibodeaux, La., home of Nicholls State University; Ogden-Clearfield, Utah, where Webster State University is located; and Provo-Orem Utah, home of Utah Valley State College.

Austin came in seventh with a 7.95 percent increase in home prices in 2007. Austin is home to a number of colleges and universities, including the University of Texas, St. Edward's University and Austin Community College. Nearby San Marcos is home to Texas State University.

San Antonio, which saw home prices climb 8.25 percent last year, ranked sixth on the College Real Estate Scorecard.

"While home prices have been depreciating in these college towns, residential properties in these regions may represent bargains right now," Frazier says.