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uying a home close to campus can cut a student’s living costs by up to $30,000 over three years, a new Mortgage Research Network study shows. The report examined 121 housing markets around major four‑year schools and found that in 23 of them, homeownership is cheaper than dormitory or off‑campus rentals when all expenses—mortgage, taxes, insurance, maintenance, closing fees, and groceries—are included. The analysis compared typical room‑and‑board costs over 36 months with the total cost of owning a house in the same market, adding modest appreciation and potential roommate income.

    In some locales, the savings are dramatic. Temple University in Philadelphia tops the list with nearly $29,800 in three‑year savings, followed by Marshall University in Huntington, West Virginia, with almost $19,000. Other high‑saving markets include the University of Delaware, University of Alabama, University of Memphis, and LSU. For investors who hold a property for a decade, profits could reach $70,000.

    However, most college towns still favor dorms. For instance, Montclair State University’s students would pay over $160,000 more by buying a home, and several other areas would see losses exceeding $40,000. The authors recommend parents target cities with low property taxes, insurance, and mortgage rates, and positive appreciation trends to make homeownership cheaper than rent or dorms.

    Key to success is choosing a low‑cost, non‑depreciating home, renting to roommates, and securing the right loan. In Baton Rouge, a single homeowner faces a $1,849 monthly cost, but with two paying roommates, the effective cost drops to about $900. While the decision is complex, the data suggest that purchasing a home could give a student a decade or more of advantage in their own home‑ownership journey.