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This is true, but it's on a sliding scale. I grew up in a town in Idaho, 100 miles from an interstate. I've lived in tech cities (SF, Austin) and now live in Ann Arbor. (Which, along with Chapel Hill, is basically the definition of "nicer college town.") So I've seen all sides of this. It's true that housing isn't cheap. The difference is what you get for the cost. What I paid for my house in Ann Arbor would buy a house in Austin—but it would be a run-down, dated, small house without much in walking distance and a "who knows?" school assignment. Here in a "nicer college town," we live on more than an acre just outside town, still have top notch schools, and my wife's commute to her job at the hospital is only 10 minutes. (Far from the partying students mentioned earlier.) Housing values are also a little more stable—a sudden tech downturn could strand you underwater in that Austin house. It takes a lot more to sap demand for housing in a university community, especially one with a big teaching hospital system. Add to that the value of a town having a demonstrated track record of caring about its schools. That doesn't grow on trees. I guess, yes: housing prices are high. Certainly when you compare to towns like the one where I grew up. But if you compare to urban areas and high-end suburbs, then the value-for-money trade is way better, even in really nice college towns. FWIW, I loved Iowa City when we were looking, and that probably would have been an even better money-for-value trade. Wife is a medical resident, so we were picking based on more than just lifestyle, and landed in Michigan. |