A study from Coldwell-Banker real estate says Evanston is the eighth most expensive college town in the nation in which to buy a what it considers to be a typical single-family home.
The study looked at the selling price of 2,200-square-foot, four-bedroom, two-and-a-half bath single-family homes in 120 towns that have major universities with big-time sports programs.
The average price of such a home in Evanston was $663,250. That’s a whole lot less than the $1.49 million such a home would cost in Palo Alto, Calif., home to Stanford University and the most expensive town on the list.
But it’s several times more than the $148,000 cost of such a home in Ann Arbor, Mich., home to the University of Michigan and the third most affordable town on the list.
Since the study did not look at condos or rental housing, it’s not possible to draw conclusions from it about the cost of living for those types of housing across different college towns.