10. Flagstaff, Arizona
Median housing price: $431,750
Estimated cost of necessities: $71,135 per year
Rounding out the top ten is Flagstaff, where you'll find Northern Arizona University. You'll have access to Division I athletics, NAU's art museum, and a natural wonder: Drive 80 miles north and you'll find yourself at the Grand Canyon.
9. Chapel Hill, North Carolina
Median housing price: $450,000
Estimated cost of necessities: $64,953 per year
Home to the University of Chapel Hill, it would be hard to run out of things to do in this college town with its vibrant scene on Franklin Street and exciting athletic rivalry with nearby Duke University.
8. Davis, California
Median housing price: $579,000
Estimated cost of necessities: $69,296 per year
The beautiful campus of UC-Davis, a top public research university, can be found in this college town. Situated between Napa Valley and Sacramento, it's just 70 miles east of San Francisco.
7. Princeton, New Jersey
Median housing price: $650,000
Estimated cost of necessities: $77,991 per year
This quintessential college town boasts Princeton University, the fourth oldest college in the US and one that continually ranks among the best colleges. The Ivy League campus is the centerpiece of the town, and residents can get a taste of the institution's prestige and history by auditing classes.
6. Claremont, California
Median housing price: $675,000
Estimated cost of necessities: $73,887 per year
Claremont has a unique educational set-up, with a consortium of five undergraduate liberal arts colleges — Pomona, Scripps, Claremont McKenna, Harvey Mudd, and Pitzer — and two graduate institutions. You'll get the small, college town feel, while still having access to Los Angeles, which is about 30 miles away.
5. Cambridge, Massachusetts
Median housing price: $685,000
Estimated cost of necessities: $85,793 per year
You'll be surrounded by academic excellence if you settle in Cambridge. It hosts two of the most elite schools in the world: Harvard University and Massachusetts Institute of Technology. What's more, you'll be a mile away from the lively and historic city of Boston.
4. San Luis Obispo, California
Median housing price: $690,000
Estimated cost of necessities: $73,007 per year
In addition to excellent wine, you'll find California Polytechnic State University in San Luis Obispo. The institution owns more than 10,000 acres of land, and recently added a 450-acre avocado and lemon ranch thanks to a generous donation.
3. Boulder, Colorado
Median housing price: $789,000
Estimated cost of necessities: $76,017 per year
A magnet for those with active lifestyles thanks to its endless bike paths and hiking trails, Boulder is also home to the first campus of the University of Colorado system: CU-Boulder. Living in this serene place will cost you, but jobs are prevalent through the university and established companies, including IBM.
2. Santa Cruz, California
Median housing price: $814,000
Estimated cost of necessities: $82,094 per year
You'll get the best of both worlds if you settle down in Santa Cruz: soothing beach life and vibrant college town life. The beach town is home to UC-Santa Cruz, which happens to be the city's biggest employer.
1. Berkeley, California
Median housing price: $849,000
Estimated cost of necessities: $81,621 per year
The most expensive college town, where the real estate market has taken off thanks to the technology boom, also happens to be the most liberal town in California. Located on the east shore of San Francisco Bay, Berkeley's most well-known institution is UC-Berkeley, the flagship campus of the University of California system.