With the price of tuition rising steadily around the United States year after year, students may want to be more cautious about where they are moving to. Students face a variety of costs of living, including accommodation, food, household bills, clothes, travel, socializing, leisure and sport, and study costs such as books, materials, and field trips for courses of study. Moving to a low-cost area could make a huge difference in the amount of loan money a student has to pay back 10, 20, and even 30 years after they finish their degree.
I was lucky. My father paid my college tuition, which was quite expensive the year I went out of state to the University of Delaware. I didn't think about money at that time; my parents had just always paid for all the big things--school, car, rent, clothing. I paid for some things, but I never took my education seriously until I went to graduate school and paid for it myself. It was during the planning phase for graduate school that I realized life was going to become a heck of a lot more expensive and that I was going to have to borrow more money than I had ever earned in one year. So, rather than choose a college based on its reputation or alleged high quality of education, I chose a college that I could get into quickly, where I could learn what I needed to know, and where the overall cost wasn't going to keep me in deep, dark debt forever. I went to Utah State University in Logan, Utah. Luckily I found low prices and excellent teachers who taught me what I needed to know.
Logan lies on the Wasatch Front, a 120-mile urban area on the west side of the Wasatch Range of Utah that is almost totally connected by a continuous development of suburbs and downtown districts. The largest downtown district is Salt Lake City, which is two hours south of Logan. The average cost of living along the Front Range is at or below the national average, and average home prices are typically lower than average, unless you live near any of the numerous ski resorts in the area. Average home prices in Salt Lake City run just under $200,000 and are $10,000 to $20,000 lower in nearby Ogden, which is just north of Salt Lake. Logan's prices run about the same, although for me, as with the majority of students, that wasn't such a concern because I was renting. Rental rates currently average just $500 in Logan, although I don't remember finding any two-bedroom apartments for that price. Still, sharing an apartment, I never paid more than $500 all together for rent and bills. Food prices, health care, recreation, and entertainment also cost very little. Compared to my friends who live and go to school in Boulder, Colorado, this is an excellent bargain.
Plenty of other reasonably priced areas can be found in the Midwest and away from popular mountain and coastal areas. Avoid high cost areas such as the heart of the Northeast, Southern California, and Northwest coastal regions. However, if you don't mind compromising a bit, you'll find a few sweet spots not far away from the hotspots. For example, Syracuse, New York, hosts a university with the same name as well as a variety of other colleges; average home prices are almost half the national average there. Bellingham hosts Western Washington State University; home prices there are at the national average and the overall cost of living is just slightly above. And, California sports Eureka in Humboldt County, which is home to the College of the Redwoods and is by the coast. Eureka's home prices and rental rates are only slightly higher than the national average (about $320,000), and the cost of living falls well below the cost of living found elsewhere in California.
The following selection of college towns are some of FindYourSpot.com's finest and most popular among members. These towns boast reasonable home prices, relatively low rental rates, and low overall costs of living. They also all have colleges, most have low or very low crime rates, and all have quality health care facilities.
Abilene, Texas, home to Abilene Christian University and McMurry University, has rental rates that run just under $500 per month; the average home price is about $120,000; and the cost of living is 15-25% below the national average.
Home of Indiana University and Ivy Technical College, Bloomington, Indiana, boast monthly rental rates of $600 per month; homes cost an average of $170,000; and the overall cost of living is 3% below the national average.
Lynchburg, Virginia, hosts Lynchburg College, Randolph Macon Women's College, and Liberty University. Rental rates are just under $500 per month; average home prices run about $172,000; and the cost of living is 10-15% below the national average.
Athens, Georgia, which is consistently ranked as one of America's Top College Towns, hosts the University of Georgia. Average monthly rental rates are about $520; average home prices are $175,000; and the cost of living runs between 1-5% below the national average.
Iowa City, Iowa, home to the University of Iowa, boasts monthly rental rates of $600; average home prices run about $220,000; and the overall cost of living is approximately equal to the national average.
Burlington, Vermont, is home to a college of the same name, the University of Vermont, and St. Michael's College. Average monthly rental rates are just a touch higher than $600; the average single family home costs about $230,000; and the overall cost of living falls 1-10% below the national average.
Fort Collins, Colorado, home to Colorado State University, is another city that consistently ranks among America's Best Places to live. Average rental rates here are around $800 according to a variety of sources I checked. However, I have a friend who rents a beautiful three-bedroom home for $775 that's just 10 minutes from the university. Average home prices in the city run close to $250,000; and the overall cost of living is just a touch above the national average.
Eugene, Oregon, home to the University of Oregon, boasts monthly rental rates that are just a touch above $600; the average price for a single family home is $275,000; and the overall cost of living is about 6% above the national average.
Chico, California, home to California State University, has relatively low monthly rental rates of less than $600. Home prices are just slightly higher than average, running about $350,000; and the overall cost of living is just 10-20% above the national average, making Chico another of California's sweet spots.
Hilo, Hawaii, home to the University of Hawaii, boasts fairly low monthly rental rates of about $550 per month; average home prices are especially low for Hawaii, running about $355,000; and the overall cost of living is 20-25% above the national average.
Tempe and Phoenix, Arizona, are home to numerous universities. This sprawling area has the full gamut of rental rates, although the average is between $500 and $600 per month. Home prices also range widely, although the average home price is on par with the national average of just under $300,000. The overall cost of living here is just slightly higher than the national average.
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