2008 Woodie Awards
Rental homes near campuses prove successful property market
Amanda Crider
Issue date: 4/4/08 Section: News
Amanda Crider
Staff writer
Tyler Powell, senior from Erin, Tenn., decided to move off campus two and a half years ago with some of his friends.
"The people who I originally decided to room with decided we wanted a little more space and something with a bit of a yard that was still close to campus," Powell said. "We went to a real estate agent and told him what we were looking for and about what price. He showed us a few places and we found our house."
Powell is just one of many students who have decided to live off campus. According to Yahoo News, enrollments at public universities are increasing as children of baby-boomers graduate college. Many university housing plans simply cannot keep up.
Terry Burgess, assistant director for resident services, said approximately 70 percent of Murray State students live off campus.
"If you consider that we have about 10,000 students, only 3 - 4,000 live on campus if you consider College Courts," Burgess said.
Other public universities have similar numbers. For example, only 15 percent of students at Middle Tennessee State University live on campus.
The growing number of students living off campus doesn't just affect the universities, but also the housing market.
Recently there has been a growing trend in college towns for people to buy houses for the purpose of renting them to students.
Jim Tate, agent for Campbell Realty in Murray, said that although the majority of students living off campus rent apartments or duplexes, there is a greater demand for rental houses as well.
"That is a fantastic market in Murray," Tate said. "If you have a house that is in the right zone to be rented to students, that is always a good investment."
Tate said he hears many stories of people who are interested in buying houses for that purpose.
"Murray's market is pretty safe in terms of investing in a home," Tate said. "People feel comfortable knowing they can rent out the home and still have it to live in or rent again after the students graduate."
Amanda Crider can be reached at
amanda.crider@murraystate.edu.
Staff writer
Tyler Powell, senior from Erin, Tenn., decided to move off campus two and a half years ago with some of his friends.
"The people who I originally decided to room with decided we wanted a little more space and something with a bit of a yard that was still close to campus," Powell said. "We went to a real estate agent and told him what we were looking for and about what price. He showed us a few places and we found our house."
Powell is just one of many students who have decided to live off campus. According to Yahoo News, enrollments at public universities are increasing as children of baby-boomers graduate college. Many university housing plans simply cannot keep up.
Terry Burgess, assistant director for resident services, said approximately 70 percent of Murray State students live off campus.
"If you consider that we have about 10,000 students, only 3 - 4,000 live on campus if you consider College Courts," Burgess said.
Other public universities have similar numbers. For example, only 15 percent of students at Middle Tennessee State University live on campus.
The growing number of students living off campus doesn't just affect the universities, but also the housing market.
Recently there has been a growing trend in college towns for people to buy houses for the purpose of renting them to students.
Jim Tate, agent for Campbell Realty in Murray, said that although the majority of students living off campus rent apartments or duplexes, there is a greater demand for rental houses as well.
"That is a fantastic market in Murray," Tate said. "If you have a house that is in the right zone to be rented to students, that is always a good investment."
Tate said he hears many stories of people who are interested in buying houses for that purpose.
"Murray's market is pretty safe in terms of investing in a home," Tate said. "People feel comfortable knowing they can rent out the home and still have it to live in or rent again after the students graduate."
Amanda Crider can be reached at
amanda.crider@murraystate.edu.
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