Marquette University

U. of I. Urbana-Champaign considered hot spot for buying homes for students

U. of I. Urbana-Champaign considered hot spot for buying homes for students

The University of Illinois at Urbana-Champaign is in one of the most attractive college towns in the country when it comes to buying homes for college students rather than paying rent, a study shows.

The area ranks 10th in the nation for homes that are more affordable than rent in college towns, according to a study by Realtor.com, the website affiliated with the National Association of Realtors.

With a median price of $149,075 on a three-bedroom, two-bathroom home in Champaign County, a homebuyer would spend $875 a month on the home versus $956 for the average rent, said Javier Vivas, manager of economic research for Realtor.com.

The monthly home payment assumes that...

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