Thats what Coldwell Banker CEO Jim Gillespie has learned while researching the cheapest and most expensive college towns in America.
Gillespie says a growing number of baby boomers are now buying second homes in college towns in order to take advantage of the sports and culture common to university life.
Theres also a cost benefit because many of the Old Schoolers are putting their kids in the college town homes instead of dorms and visiting them during the weeks of big sporting events.
But the price of getting an education in college town real estate varies. For instance, a four-bedroom home in Lubbock, Texas, the home of Texas Tech only costs $164,133 while the same house in Palo Alto, California where Stanford is located costs a whopping $1,550,000.
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