Yahoo Finance 10 Cheapest College Towns in the US Where Students Can Afford To Live
Struggling to pay bills, running out of beer-and-pizza money and frequently hitting up loved ones for additional funds don't necessarily have to be part of your college experience -- especially if you choose your college town wisely.
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GOBankingRates has gathered data on 70 of the nation's most popular college towns, and we've come up with a list of the top 10 most affordable ones. The findings are based on Sperling's Best Places cost of living index, along with Zillow's average rent numbers for June of this year. We've combined those figures into an overall score to determine our rankings.
Our list of the most affordable college towns has a strong Midwest flavor, with six of the entries coming from that region. Iowa has two entries in our top 10. For the No. 1 most affordable college town, however, you'll need to head to the Deep South.
You can check out our full list below. And we threw in a local college bar worth checking out in each of these more affordable college locations. Hoist one for us -- something non-alcoholic if you're not 21 -- with all of the money you'll be saving.
Manhattan, Kansas
Average rent (2023): $1,180
Overall cost of living index: 85.3
College bar to check out: Kite's Bar and Grill, 615 N. 12th St.
No, not that Manhattan. The Kansas version is home to about 55,000 residents as well as Kansas State University and several smaller schools. Cost of living-wise, Manhattan, Kansas, is on the opposite end of the spectrum from the spendy New York borough.
Like the other college towns in our top 10, this Manhattan boasts average rents of just over $1,000 a month. Sperling's Best Places lists a cost of living that's about 85% of the national median.
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Binghamton, New York
Average rent (2023): $1,279
Overall cost of living index: 74.7
College bar to check out: Tom & Marty's Townhouse Restaurant, 89 State St.
Binghamton and its surrounding cities boast multiple schools, including Binghamton University and State University of New York-Broome Community College. Binghamton itself has about 50,000 residents. Its overall cost of living score is the lowest in our top 10, which makes it a good fit for low college budgets.
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Laramie, Wyoming
Average rent (2023): $1,101
Overall cost of living index: 92.8
College bar to check out: Buckhorn Bar & Parlor, 114 E. Ivinson St.
Historic Laramie is a haven for students interested in skiing, hiking, fishing and numerous other outdoor activities. The home of the University of Wyoming is also relatively easy on the wallet.
Iowa City, Iowa
Average rent (2023): $1,150
Overall cost of living index: 87.2
College bar to check out: Deadwood Tavern, 6 S. Dubuque St.
A big chunk of life in Iowa City revolves around the University of Iowa, with the often bustling Ped Mall a common meeting place for students. Low cost-of-living scores for housing, utilities and transportation help Iowa City to its overall score of 87.2.
Champaign, Illinois
Average rent (2023): $1,204
Overall cost of living index: 79.2
College bar to check out: Illini Inn, 901 S. 4th St.
You'll find the University of Illinois in Champaign and neighboring Urbana. Champaign has a population of about 90,000 and brands itself as a "micro-urban" city strong on arts and culture. Students may find it budget-friendly as its overall cost-of-living score (79.2 against a national median of 100) is the second-lowest in our top 10.
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Bloomington, Indiana
Average rent (2023): $1,156
Overall cost of living index: 82.4
College bar to check out: Nick's English Hut, 423 E. Kirkwood Ave.
Groceries, housing, healthcare, utilities ... Bloomington comes in below national averages for living costs in almost every category. That bodes well financially for students at Indiana University Bloomington, home of the Hoosiers. In addition to the university, other nearby attractions include Hoosier National Forest, Monroe Lake and a rich, downtown nightlife scene.
Columbia, Missouri
Average rent (2023): $1,068
Overall cost of living index: 89.8
College bar to check out: Campus Bar & Grill, 304 S. 9th St., Suite 100
Surrounded by forests and rolling hills, Columbia is home to the University of Missouri, Columbia College and Stephens College. The city also boasts multiple parks and botanical gardens.
It's affordable, though. Groceries, housing, transportation and utilities all come in below national averages.
Rexburg, Idaho
Average rent (2023): $1,030
Overall cost of living index: 93.1
College bar to check out: Rexburg is heavily Mormon and not your typical college town in terms of bars. The student-run "Hanging Out in Rexburg" website offers numerous ideas for activities and gathering places.
Rexburg has been previously recognized as one of the nation's safest and most affordable college towns. Located about 80 miles northeast of Pocatello and 80 miles southwest of Yellowstone National Park, Rexburg is home to Brigham Young University-Idaho. It may not crack any lists of the biggest college party towns, but Rexburg is "known as one of the most affordable places to live in the United States," according to Sperling's Best Places.
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Ames, Iowa
Average rent (2023): $1,028
Overall cost of living index: 90.3
College bar to check out: BNC Field House, 206 Welch Ave.
With groceries costing below national averages and affordable rental options, Ames is less likely to drain your bank account than many other college towns. Located in central Iowa, Ames features Iowa State University and the Department of Energy's Ames Laboratory. Ames has a population of about 70,000 and is located about 30 miles north of Des Moines, the state capital.
Starkville, Mississippi
Average rent (2023): $1,074
Overall cost of living index: 82.0
College bar to check out: Dave's Dark Horse Tavern, 410 Dr. Martin Luther King Jr Dr.
Affordable Starkville brands itself as "Mississippi's College Town." Residents and students alike cheer on the Mississippi State Bulldogs, stroll through the Cotton District and take part in numerous outdoor activities.
Starkville's overall cost of living index comes in at 82, the third-lowest on our list.
Methodology: For this piece GOBankingRates looked at 70 of the most popular college towns in the United States and found the following factors for each town: (1) 2023 average rent as sourced from Zillow's June 2023 data and (2) overall cost of living index as sourced from Sperling's Best Places. Both factors were then scored and combined with the lowest score being the most affordable. In final calculations factor (1) was weighted 1.5x. All data was collected and is up to date as of August 1, 2023.
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This article originally appeared on GOBankingRates.com: 10 Cheapest College Towns in the US Where Students Can Afford To Live
