Via Wikimedia Commons
These perks tend to come with a price - if you head to Princeton, New Jersey, for example, expect to pay about $650,000 for a home.
However, there are more affordable options out there than you may think.
Realtor.com recently released a list of America's most and least expensive college towns ranked by median home price.
The site looked at more than 300 college towns - "college towns" defined as areas where student residents number over 5,000 and make up over 20% of the town's total population.
Here, we've highlighted the ten most affordable. We also included the cost of annual necessities (not including savings or discretionary spending) for a four person family (two adults, two children) using the Economic Policy Institute's (EPI) 2015 Family Budget Calculator.