The affluent community of Chestnut Hill, located on the border of Boston and Newton and home to Boston College, is the seventh most expensive college town in the country, according to a new study from Coldwell Banker.
Coldwell Banker's 2011 College Home Listing Report ranks college towns across the country in home affordability. The report provides the average home listing prices for three-bedroom, two-bathroom properties listed for sale on coldwellbanker.com between August 2010 and August 2011 in markets home to 117 of the schools competing in the Football Bowl Subdivision.
With an average price of $669,617, Chestnut Hill was more expensive than Seattle, San Jose and Annapolis, Md., homes to the University of Washington, University of San Jose and the United States Naval Academy, respectively.
Chestnut Hill was comparatively cheap, however, when judged against Westwood and Palo Alto, Calif., homes to UCLA and Stanford University, respectively, and the two most expensive college towns in the land. The average three-bedroom, two-bath home in those communities came in at approximately $1.27 million and $1.23 million, respectively.
The most affordable college town in the country was Memphis, Tenn., with an average price of $89,244 - the only community on the list with an average asking price less than $100,000.
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