College towns like Madison are vibrant with activity when the students are there, walking to class, populating State Street, Camp Randall and the Memorial Union with its mass of colorful chairs at the lakeside. Turns out college towns are good for affordable housing and Madison, WI makes the list of 2011 College Home Listing Report, coming in right in the middle with an average list price for a three bedroom home is $221,000.
How are college towns good for housing?
Universities offer expansive employment opportunities and Madison is also fortunate to have the University Hospital as an area employer as well as government jobs at the Capitol. The unemployment rate in Madison hovers around 5%, far less than the national average. That bodes well for homeowners in the area or those seeking employment in Madison and wanting to buy a house. The University also provides built-in pool of student renters for those who own rental property for investment purposes.
Buying real estate in Madison?
As with any real estate, location does matter. Drive the neighborhoods, do your research with a map search or point of interest search at firstweber.com. Or, ask a Realtor to help you with the research portion. Agents familiar with the Madison area will be able to provide recent real estate sales reports, average sales price, days on market and perhaps insight into popular student areas if you are considering buying investment property. Contact our Relocation Department if you need Wisconsin relocation assistance.
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