Real Estate Marketing & Beyond
With the national college football league just about to kick off, a study by Forbes columnist Kamran Rosen has revealed that homeowners living near a stadium could make some serious money by renting out their properties to traveling fans that wants to see games and players up-close. If they're lucky, they might even catch a glimpse of Jimmy John Shark.
Rosen analyzed 2018 data from the home rental site Vrbo to determine the rental rates that homeowners can fetch in college towns on game day weekends. He found that many homeowners could recoup their entire monthly mortgage payment simply by renting out their property for a single night.
The rental price boost on game day weekends ranged from around 20% in Fayetteville, Arkansas, home of the Razorbacks, to a whopping 181% in Ann Arbor, Michigan, which is home to the Wolverines. And for homeowners in South Bend, Indianapolis, and Blacksburg, Virginia, the rent for a single night was more than enough to cover the average monthly mortgage payment in those areas.
The top seven places with the highest rents on game days, according to the analysis, were:
South Bend, Ind. (University of Notre Dame): $817/night
Ann Arbor, Mich. (University of Michigan): $772/night
Tuscaloosa, Ala. (University of Alabama): $730/night
State College, Pa. (Penn State University): $726/night
Auburn, Ala. (Auburn University): $700/night
Blacksburg, Va. (Virginia Tech): $685/night
Oxford, Miss. (University of Mississippi): $675/night
And in cases where traditional rivals are pitted together, the rental rates go up even higher. For example, a match between Ohio State and Penn State last year saw rates increase to $925 per night on average, compared to the usual $726 for other game days.
