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House Prices Could Skyrocket in These 7 Popular College Towns

Campus towns are quietly becoming some of the toughest places to buy.

By Chris Lewis, CEPF , Edited by Calista Headrick

Updated Nov. 10, 2026

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College towns have a reputation for being sleepy places where the housing market barely moves. Plenty of them are anything but. In a handful of university cities, home values keep climbing while the number of homes for sale stays stubbornly thin.

Maybe you are eyeing a rental near campus, thinking about moving closer to the grandkids, or just curious how your own town compares. Whatever the reason, it helps to know what is pushing these markets up, especially if a move is part of your retirement goals.

Here are seven college towns where prices are up year over year, and what is behind the climb.

Editor's note: Home value figures come from Zillow and Redfin.

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Ann Arbor, Michigan

The typical Ann Arbor home was worth $517,346 in September 2026, up 3.0% from a year earlier, according to Zillow's Home Value Index.

Supply cannot keep up. A June 2025 draft city housing appendix found that once township islands, historic districts, floodplains, public land, rights-of-way, and current single-family and duplex zoning are set aside, less than 13% of the land is open to major new housing.

City Council member Jen Eyer summed it up for WXYZ in 2024: "We are tens of thousands of housing units short... We are in a typical supply and demand imbalance. High demand. Low supply."

In March 2026, the city council unanimously adopted a new land-use plan meant to allow denser housing, which could ease the squeeze over time.

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State College, Pennsylvania

Home values in State College reached $415,228 in September 2026, up 2.3% year over year, with homes going pending in about eight days, according to Zillow.

Supply is thin. Zillow listed just 121 homes for sale and 49 new listings as of September 30, 2026.

Athens, Georgia

Athens' median sale price was $368,724 over the three months ending September 2026, up 12.9% year over year, according to Redfin. The median home sold in 44 days, down from 58 a year earlier, and 349 homes sold in September, up from 319.

The University of Georgia enrolled 44,547 students in fall 2026, up 1.5% from a year earlier, according to UGA. A UGA study by professor Michael Adjemian put the university's economic impact on the state at a record $9.2 billion in 2025.

Out-of-town interest matters here too. Redfin migration data show that among house hunters outside the metro, New York buyers searched Athens more than any other metro, followed by Los Angeles and Washington, D.C., from April through June 2026.

Buyers are not completely boxed out, though. Active listings in the Athens-Clarke County metro area rose to 1,043 in September 2026 from 985 in August and 961 in July, per Realtor.com data hosted on FRED, so inventory has loosened a little even as prices climb.

Provo, Utah

Redfin put Provo's median sale price at $516,154 over the three months ending September 2026, up 15.1% year over year. Zillow's typical home value for the same month was $478,876, up 1.3%.

Jobs explain much of it. An Economic Leadership report ranked the Provo metro first in the nation for job growth over the decade from 2015 to 2025, near the top among the 150 largest metros in white-collar, blue-collar, and service work, much of it tied to Silicon Slopes companies.

People are following those jobs. Utah County added 101,257 residents between 2020 and 2025, about 38% of the state's total population growth, according to an October 2026 Kem C. Gardner Policy Institute report. Brigham Young University's 37,874 daytime students in fall 2026 keep rental demand steady on top of that.

Even so, Redfin rates Provo only "somewhat competitive," with a median of 42 days on the market.

Madison, Wisconsin

Madison home prices rose 4.7% year over year over the three months ending September 2026, to a median of $439,791, according to Redfin. Sales picked up as well, with 749 homes sold in September against 715 a year earlier.

Jobs drive much of the demand. At an October 2026 biotech panel at UW-Madison, Sen. Tammy Baldwin said the state's bio health industry supports nearly 139,000 jobs and generates more than $38 billion in economic activity every year.

Homes are taking a bit longer to sell than last year, 50 days against 44, and Redfin scores the market 67 out of 100 for competitiveness. Rising steadily, in other words, not overheating.

Charlottesville, Virginia

Charlottesville's median sale price was $507,886 over the three months ending September 2026, up 5.8% from the same period a year earlier, according to Redfin. Homes sold in about 24 days, and 116 sold in September, up from 107 last year.

Land is the real pinch. Only about 5% of surrounding Albemarle County is designated for growth, which limits how much gets built and where. Redfin migration data show homebuyers in the Washington, D.C., metro area searched Charlottesville more than those in any other metro from April through June 2026.

The market is very competitive. Redfin reports that it's common for homes to receive multiple offers.

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Columbia, Missouri

Columbia's typical home value was $321,671 as of September 30, 2026, up 2.5% over the prior year, according to Zillow's Home Value Index. Homes go pending in about 21 days.

The city keeps growing around the campus. Census Bureau estimates put Columbia's population at 130,851 as of July 1, 2025, up from 126,254 in the 2020 census.

Buyers still have some leverage. Zillow reported that 53.3% of August 2026 sales closed under list price, so there is often room to negotiate.

Bottom line

The pattern repeats in all seven towns. Jobs, newcomers, and, in several places, a big university keep adding demand faster than local land and local rules allow new homes to go up. That explains why prices have risen, but it is not a promise that they will keep rising.

If you are shopping in one of these markets, get quotes from more than one local lender and weigh the full monthly cost, including taxes, insurance, and upkeep, against your budget. Already own a home? It is worth a minute to compare rates for home equity options before you decide to sell or stay.

Editor's Note: This article is for informational purposes only and should not be considered investment advice.

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