• Tallahassee, Florida — Florida State University

    The Florida state capital, Tallahassee was rated one of the nation's Top 10 Bargain Retirement Spots by U.S. News & World Report earlier this year.For the first half of 2011, the home of…   See the Image

  • Knoxville, Tennessee — University of Tennessee

    Foreclosures accounted for only 8 percent of all residential sales in Volunteer territory during the first six months of 2011, with 431 properties in some stage of foreclosure selling in…   See the Image

  • Tucson, Arizona — University of Arizona

    Fifty percent of all residential sales in the home of the Arizona Wildcats were foreclosure sales through mid-year 2011, allowing for investors to pick from a plethora of deals.For the first six…   See the Image

  • Baton Rouge, Louisiana — Louisiana State University

    Foreclosure sales in LSU Tiger country accounted for just 14 percent of all home sales in Baton Rouge during the first half of the year, with 221 properties in some stage of foreclosure…   See the Image

  • Evanston, Illinois — Northwestern University

    Just 20 miles north of downtown Chicago, Evanston had 74 foreclosure properties that sold in the first half of 2011 for an average sales price of $190,930 — a discount of 47 percent off the…   See the Image

  • Louisville, Kentucky — University of Louisville

    The city that Cardinal fans call home base had 889 foreclosure properties sell during the first six months of the year, representing nearly 25 percent of all home sales during the period.…   See the Image

  • Columbus, Ohio — Ohio State University

    For the first six months of 2011, Buckeye fans paid an average sales price of $57,700 for foreclosure properties — a 58 percent discount off the average sales price of properties not in …   See the Image

  • Palo Alto, California — Stanford University

    Known as the "birthplace of the Silicon Valley," 94 foreclosure properties sold in Cardinal territory for an average price of $350,886 during the first half of the year — an astounding…   See the Image

  • For parents, buying a home off campus for their kids to live in can be a very pragmatic business decision. Investing in college-town real estate can also make sense for alumni or other investors looking for a property that generates a steady cash flow in a location they love — if they're willing to put up with the heightened potential for property damage, continuous repairs and occasional evictions from student tenants who don't feel responsible for taking care of the property.

    It's the time of year when proud parents are sending their kids off to college. What better time to consider the best college towns for investing in foreclosed homes?   See the Gallery