Follow U.S. Immigration and U.S. Education: The American Institute of Economic Research has released the latest index of college locations, comparing the academic environment, quality of life, and employment opportunities in college towns nationwide. The top college towns with populations under 250,000 are as follows:
1. Ithaca, New York
Home to Cornell University and Ithaca College, located in upstate New York. It ranks first for several reasons: the highest research capacity (with a research and development spending of $27,158 per student in 2011), the greatest percentage of commuters using public transportation or walking (22.6%), and the highest proportion of residents with at least a bachelor's degree (51.9%).
Ithaca is also currently the college town with the most new company formations.
Student Ratio: 288.5 college students per 1,000 people
Average Rent for a 2-Bedroom Apartment: $1,130
Median Income: $28,121
2. Ames, Iowa
As the home of Iowa State University, Ames has the highest student ratio among all college towns, while boasting an unemployment rate of only 3.2%, the second lowest among college towns.
Student Ratio: 299.0 college students per 1,000 people
Average Rent for a 2-Bedroom Apartment: $717
Median Income: $18,654
3. Corvallis, Oregon
This small town, home to Oregon State University, has a population of 85,000 and ranks as the second most convenient college town, with 18.4% of commuters using public transportation, biking, or walking.
Student Ratio: 229.5 college students per 1,000 people
Average Rent for a 2-Bedroom Apartment: $824
Median Income: $19,949
4. Iowa City, Iowa
Graduates from the University of Iowa have excellent job opportunities in this city, with Iowa City's unemployment rate of 3.3% being the second lowest among all college towns.
Student Ratio: 197.0 college students per 1,000 people
Average Rent for a 2-Bedroom Apartment: $851
Median Income: $26,740
5. Pennsylvania State University
With high research capacity (spending $18,986 per student on research and development in 2012), excellent transportation access (16.5% of commuters use public transport or walk), and a considerable student population.
Student Ratio: 270.8 college students per 1,000 people
Average Rent for a 2-Bedroom Apartment: $914
