Wednesday
April 23, 2014

Top 8 College Towns for Investors

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Top 8 College Towns for Investors

Investors increasingly are eyeing college towns to snag properties at discounts and turn them into rental properties that could potentially offer steady cash flow with student tenants. But which college towns offer some of the best returns? 

Realtor.com recently released its second annual list of the best college towns for investors, factoring in average monthly rental prices and comparing it to estimated mortgage payments of a median priced home.

The following are the top eight college towns for investors, according to this year’s report.

1. Boston

Median list price: $334,900

Average rent: $3,084

Mortgage payment estimate: $1,240

2. Princeton, N.J.

Median list price: $265,000

Average rent: $2,056

Mortgage payment estimate: $980

3. Chicago

Median list price: $194,000

Average rent: $1,630

Mortgage payment estimate: $720

4. Washington, D.C.

Median list price: $395,000

Average rent: $2,637

Mortgage payment estimate: $1,460

5. Houston

Median list price: $183,000

Average rent: $1,134

Mortgage payment estimate: $680

6. Philadelphia

Median list price: $234,900

Average rent: $1,475

Mortgage payment estimate: $870

7. Atlanta

Median list price: $174,900

Average rent: $1,187

Mortgage payment estimate: $650

8. Pittsburgh

Median list price: $140,000

Average rent: $1,122

Mortgage payment estimate: $520

Source: Realtor.com

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