Study: Indiana college towns affordable

November 6, 2007
There's at least one ranking related to college football where Indiana schools-and the towns that surround them-come out on top: Home affordability.

A study by Coldwell Banker has found that Muncie, home of Ball State University, is the nation's most affordable college town.

The average price in Muncie for a four-bedroom, two-bath home with a two-car garage is $150,000, according to Coldwell Banker's College Home Price Comparison Index. The annual survey looked at 119 universities with Div. 1A football programs.

A similar house in Palo Alto, Calif., home of Stanford University, the most expensive college town, costs about $1.68 million.

Other Indiana college towns also showed well on the list. Purdue University and Indiana University had the most affordable housing markets in the Big Ten. Homes in West Lafayette averaged $184,333, while the Bloomington average was $198,000.

And the University of Notre Dame, in South Bend, led independents, with an average home price of $180,500.
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