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November 6, 2007

Stanford Wins the Mortgage Bowl

Square footage is about as precious as yardage gains in Palo Alto, Calif. For the third consecutive year, Stanford University’s hometown was the most expensive “football town” in an annual survey by Coldwell Banker, the real-estate brokers. A 2,200-square-foot, four-bedroom home costs an average of $1.7-million there. The Cardinal, meanwhile, has a 3-6 won-lost record this season.

The survey ranks home prices in the local markets of 119 Division I-A institutions because such areas attract young alumni as well as retirees, says a company spokesman.

The most inexpensive college towns are in the Midwest. Ball State University, in Muncie, Ind., was the biggest bargain, an average price of $150,000 for that same 2,200-square-foot house. —Elizabeth F. Farrell

Posted on Tuesday November 6, 2007 | Permalink |

Comments

  1. At that rate one might come out ahead by jacking up the Muncie House and hauling it to Palo Alto. Knowing Indiana, I can see why their ranking. (boring for openers) Knowing CA, I cannot see why their ranking. Stanford or no Stanford. (Mud slides, earthquakes, volcanoes, floods, wild fires, tsunamies,
    pollution, incredible traffic)

    — Art Wegweiser    Nov 7, 09:52 AM    #

  2. Art – You don’t know much about PA. Of the maladies you list, earthquakes (rare) and bad traffic are on the money; the others, not so much. Of course, it is the property/location, not the house, that have the value here. The big pluses for me are unlimited opportunities as a “culture vulture”, lots of protected open space for outdoor recreation, a relatively progressive population, and probably the best weather in the world.

    — scotteebee    Nov 7, 11:21 AM    #