Choose Austin for college and your piggy banks will be happy

A recent survey has good news for those living in college towns like Austin. The annual Coldwell Banker College Home Price Comparison Index listed Austin as the 59th most affordable college market in the United States, making it even more desirable for home buyers and investors. Real estate professionals have long been aware of the advantages of buying in a college town; typically, these markets offer long-term stability, high demand, and a wider range of services and local businesses than other comparable metropolitan communities.

College towns in the Midwest offered the best bargains with average home prices starting at $121,885, while the West Coast was priced out of reach for most with the highest average prices topping out at $1,489,726. Austin is competitive with a 2009 average price of $226,642, making it a very affordable real estate market for first-time buyers and investors alike. In comparison to other U.S. cities, Austin has escaped the brunt of the recent housing industry problems, making it even more desirable to real estate buyers.

Those of us who already live in Austin are well aware of the benefits this college town provides to its residents. Beautiful views, an extensive park system, world-class dining and down-home barbecue are only a few of the unique advantages of living in Austin. Because Austin is the capital city of Texas as well as the home of the University of Texas at Austin, the presence of both the government and higher education sector provides additional services and benefits to residents that might not exist without their support. Austin adds to these advantages a vibrant, growing local economy that has its roots in the high tech and medical sectors, ensuring its residents have access to cutting-edge health care services and the latest advances in medicine and technology.

Austin’s college town status and stable economic conditions have made it a desirable location for real estate investment; homes in Austin have retained their value remarkably well during the recent housing industry slump. Demand remains high, spurred in part by the constant need of college students for housing and the overall desirability of Austin communities. Austin’s position as one of the greenest cities in America also attracts buyers and investors, ensuring the housing market has a stable base and that home values remain high. As the national economic situation continues to improve, it seems likely that Austin will continue to reap the benefits of its status not only as a college town, but as one of the best places to live in all of the United States.