Coldwell Banker rates college towns
This study by Coldwell Banker has gotten some decent play in the mainstream media...not too substantive and the study's methodolgy seems flawed. It ranks the median value of property in each of the college towns that play Div. 1-A college football.
Beyond the "fluff" of the study, the question of the investment value for a college student who may be spending some 5 to 6 years in a place is legitimate...you can likely get some equity over that period of time. Rent out a bedroom or something too. I suppose there is the practical side of the maturity of the student, weekly beer bashes might impact the quality of the real estate.
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