Life On Campus: Owning Luxury Property Near A University

For millions of students in elementary and high school, August is a dreaded month—it means the end of summer and the beginning of another school year with exams, homework and rules.

But for college students, the arrival of August and the new academic year is a reason to celebrate. Back on campus, these young adults return to a space of independence, self-discovery and socialization. The vitality of academia is not only felt by students but also those who make their homes in college towns and near campuses.

 353 Central Park West, Apt 9, New York, NY

This Upper West Side residence, listed for $7.995 million, offers close access to Columbia University. (Warburg Realty)

While it might seem like housing options near college campuses are only dorms, cheap rentals, or sorority houses, many properties offer luxury living. In cities like New York, San Diego and Santa Fe, some schools lie in neighborhoods home to some of the most sought-after real estate in the world.

media room inside 353 Central Park West, Apt 9, New York, NY

Views from the sophisticated four-bedroom take in the New York City skyline and Central Park. (Warburg Realty)

New York University, for example, lies in Greenwich Village, where the median sale price starts in the $1.1-million range and runs upward of $30 million. High-dollar areas such as San Diego’s La Jolla neighborhood and Museum Hill in Santa Fe, New Mexico, are where you’ll find the University of California San Diego and St. John’s College, respectively.

 2201 Camino del Collado in la jolla, san diego, california

Located just west of La Jolla Shores Drive, this well-kept Traditional-style home offers great access to the nearby University of California San Diego campus. (Willis Allen Real Estate)

Proximity to a university allows residents convenient access to many institutions on campus such as museums, libraries and concert halls, as well as cultural events such as Q&As, performances and public lectures by the world’s most renowned scientists, artists and philosophers.

view of la jolla beach and a luxury home at 2201 Camino del Collado

The sun-filled, two-story house is a short stroll away from Scripps Pier, Caroline’s Cafe and La Jolla’s beachfront.

For sports fans, collegiate athletics are year-round, with most competitions being open to the public. Tailgates and other outdoor fanfare events are also popular on campuses with strong athletic programs.

Local businesses are boosted by the presence of young academics and their interests—coffee shops buzz with the energy of students and faculty deep in discussion; music venues are booked by popular up-and-coming bands; and bookstores feature readings and signings by prominent authors.

eastside santa fe adobe home near st john's college

This Adobe-style home with modern additions is located in the foothills above St. John’s College. (Barker Realty)

Colleges and universities are often stable institutions with centuries-old records to prove it and this consistency extends to the surrounding area as real estate stays in steady demand. While property values in any city boom and bust for various reasons, homes around university campuses remain steady as faculty and students are always in need of housing.

updated adobe house at 952 Acequia Madre, Santa Fe, NM

Listed for $1.599 million, the Adobe-style house has three bedrooms plus a fourth “flex” room for guests, an office or other uses. (Barker Realty)

Whether you enjoy cultural or athletic events, want to be nearer to your kids attending school, or love the air of academia, living in a college town or city can get you back into that campus lifestyle without having to live in a dorm.