Fort Worth just got beat out by Muncie, Ind. But Cowtown still finished better than 117 other college towns for housing affordability.The third annual Coldwell Banker College Home Price Comparison Index concluded Fort Worth is the second most affordable college town in the nation, behind Ball State University in Muncie, Ind.
Coldwell Banker based their study on cities and towns that are home to 119 Football Bowl Subdivision (I-A) schools. The subject home for the study was a 2,200 square-foot home with four bedrooms and 2.5 baths.
The 2007 average price for this type of home in Fort Worth is $151,250. Other Texas schools on the list include fifth-ranked Texas Tech in Lubbock, the University of Houston and Rice University, which were tied for eighth place with an average price of $169,736.
Some students are skeptical of the results. Ali Gray, a junior marketing major, said she was shocked when she heard Fort Worth ranked on the most affordable list.
“That can’t be right,” Gray said. “I live in that same type of house, and I think my rent is pretty expensive.”
Junior economics major Kyle Mathis said he felt the same way Gray did about the rankings.
“I live in about a 2,000-square-foot house that really isn’t that nice, but I still pay a pretty high rent,” Mathis said. “I’m interested in what everybody else out there is paying for their houses.”
Though some students may be shocked, this is not the first time TCU has landed in the most affordable category. Last year, Coldwell Banker ranked TCU as the fourth most affordable market, with the same average price as 2007.
Amy Beck, a junior business major, said she thinks the rankings make sense.
“I’m originally from California, so obviously I think the prices here are beyond reasonable,” Beck said. “I think people should be pretty satisfied with what they pay here for rent.”
Coldwell Banker listed Stanford University in Palo Alto, Calif., as the most expensive college market in the nation, with an average price of $1,677,000.
The Mountain West Conference was ranked the eighth most reasonable out of the twelve conferences in the nation. The average price for a home in a Mountain West Conference college town is $324,189. San Diego State University ranks as the most expensive market in the conference, with an average home price of $618,750.