Hanover, New Hampshire was voted one of the Best Small College Towns by USA today. Home to Ivy League Dartmouth College, Hanover has grown from a collection of about 20 families when the university was founded into a quintessential New England college town in New Hampshire's Upper Valley. The town itself features a thriving arts and culture community, while easy access to the Connecticut River and White and Green Mountains make it a great base for outdoor enthusiasts.
Purchasing a home or property in a college town is not just about the charm and vibrancy these areas offer; it’s also a sound investment strategy. Cities with colleges often enjoy numerous benefits, from a better-educated workforce to a thriving arts scene. These towns are typically bustling with activities—where else could you attend a lecture by a favorite author, catch a Division 1 sporting event, and enjoy a concert at a low price, if not for free?
For those looking to escape the hustle and bustle of major metropolitan areas without sacrificing the amenities, college towns present an ideal alternative. They offer a more relaxed lifestyle while still providing a rich cultural and social environment. This makes them particularly appealing for individuals and families seeking a balance between tranquility and engagement.
The economic stability of college towns is another major draw. “They’re generally steady economies that have less ups and downs,” says Mark Zandi, chief economist at Moody’s Analytics. College towns “make very attractive places to live for people who want a more affordable, low-key lifestyle. In many cases, there are reasonably good school districts and lots of different housing choices.”
Moreover, owning a home in a college town is a prudent investment due to the strong, steady demand from both young and older buyers. The presence of the college ensures a constant influx of students, faculty, and staff, creating continuous rental opportunities for those interested in becoming landlords. This consistent demand helps maintain property values and provides a reliable income stream for rental property owners.
College town offers a blend of economic stability, cultural vibrancy, and steady demand. Whether you're looking to buy a home for personal use or to generate rental income, college towns present a compelling case for a solid investment.