peggy01

My husband and I are planning to retire on the east coast. Because we have so much family in California and we don't like the summer humidity, we would like to keep a condo in either California or southern Oregon. A college town would be perfect. We could rent it out to students fall through spring, and stay there in the summer when it would most likely be vacant. Because it will primarily be a rental, it can not be too expensive. Can anyone suggest a college town that's still somewhat affordable in either California or Oregon? We don't like the desert and both southern California and the bay area would be out of our range.

trippinkpj

Here's a few to check out. In CA, Chico, Sacramento, Petaluma/ Rohnert Park (near Sonoma State), Arcata (Humbolt State), Fresno and San Luis Obispo. SLO isn't as affordable as it used to be though. I'm not sure about college towns in Southern Oregon. FYI, Sacramento, Chico and Fresno can get hot in the summer. Though not as humid as the east or south gets.

sequess

San Luis Obispo has gotten pretty pricey but is still less expensive than many places in Southern CA or the SF Bay area. A fairly basic condo would be in the lowish 300's but most of the better ones are in the mid-400's and up.

Suzie

Sacramento has a college but it is not a college town. It is a government town with students who commute for the most part. You do not get that college feeling in Sacto. Davis however is a college town.

Fresno and Chico are for sure college towns. If you will be spending summers in that town then Fresno would be too hot and smoggy in the summer. Chico and Davis would be pretty hot too.

suze

Corvallis, Oregon? OSU.

janisj

Davis is VERY expensive - almost Bay area rates.

Chico is a college town for sure (w/ all the good and bad that involves), hot in the summer but very dry -- like 18% humidity or less when it hits 95F

Don't know what real estate costs are in Arcata - but another college town. You DEFINITELY wouldn't need to worry about heat in Arcata!

Fresno has a college of course - but who'd want to live in Fresno in the Summer??

There is a new UC in Merced - but same comments as Fresno. Not a great place in the summer.

Gardyloo

Arcata CA (Humboldt State) - near Eureka;

Ashland OR (So. Ore. U) it could double as a summer rental for Shakespeare festival actors/visitors.

LoveItaly

Davis, being in the Sacramento Valley (just southwest of the City of Sacramento along I-80) gets very hot in summer. And it is true, prices are very expensive.

Also, for anyone that is a minority, there has been problems for minorities in Davis these last years. The website www.abc7news.com has articles regarding the problems.

peggy, having had a lot of rentals over the years I will throw out another thought to you. If you buy a condo anywhere and rent it to university students for the school months I would truly anticipate when you and your husband go to stay in that same condo for the nonschool months (summer) that you and your husband will spend your "vacation" time mostly getting the condo back in shape for the next rental period. University students are not generally known for taking care of the place they rent.

And before anyone slams me because they are parents of university students let me say that I have step grandsons and grandsons..believe me I would not want to move into a condo where university students had lived for nine months without having the place completely cleaned and I know that repairs would have to be taken care of. And if the condo was furnished..oh sigh..I don't think you would want to spend your summer their using beds, sofas etc.that university students have lived on for nine months.

Just my two cents worth and something for you to consider. Best wishes to you with you decisions.

LoveItaly

summer there using..I do need to edit my post.

bbqboy

Ashland & the Rogue Valley fits your bill, but I don't know whether I'd call Ashland proper affordable. You can rent it out to folks other than students here, though. Here's a start:
http://www.ashlandchamber.com

Fodorite018

I think LoveItaly brings up a really good point.

Anothing thing to think about. If you buy a home, and it is near other rentals, you will most likely be hearing their parties. In the summer months, some students will stay and take lighter loads, and so the parties tend to be more often than during the traditional school year.

lisa

If you don't want to rent to students, another option would be to buy in a town that gets seasonal visitors during ski season (November-April) and rent out to skiers. Bend, Oregon & vicinity would be great for that.

ncgrrl

As I was reading your question, I thought of many of the same issues LoveItaly brought up.

The only new suggestion I can offer, is to buy something expensive that you can rent out to visiting professors. They might take better care of the furniture (don't bet on it though, it's still a rental to them)

Lisa's suggestion about a ski condo sounds good.

peggy01

Thanks for the great response! I have taken into consideration the fact the college students might thrash the place, not making it the perfect plan, but still an idea worth considering. Then again, I did not think about summer parties, which would be a big concern. Our original idea was to buy a vacation home to rent out while we are not there. But I hear the management fees on vacation homes are outrageous, and you have to worry about how often it will be vacant. If we were to re-consider the vacation rental, I would like to hear some ideas for areas, in California specifically, which have a high rental demand in all seasons. I was thinking about Big Bear or Lake Arrowhead, but don't know how expensive those areas might be.

LoveItaly

Hi peggy, lisa mentioned Bend, OR. I had friends that had a second home at SunRiver (right next to Bend). They did not have a problem keeping this house rented. They had a very good property management co. there that specialized in renting second homes and consequently they never had any problems.

Before you make any decision do talk to your accountant as to the tax consequences regarding the various ways you will be taxed depending on how many days a year you will be residing in a second home.

sunbum1944

You might take a look at Sun River Resort close to Bend, Or- or Eagle Creek-they both cater to skiers in the winter and lots of golfing and outdoor activities in the summer -
not a college town but I believe a great place to have a home in the rental pool.
If you are still interested in college towns- Eugene Or had not been mentioned-
home to the U or O.
I do think the cost of homes here is quite a bit less than most other places on the west coast -

Fodorite018

I agree, Sunriver is an excellent place for a rental. You did not mention a price range, so that might be the only hitch.

Orcas

You have a pretty large geographic range here. Where in California are your relations? California is a huge state. Would you move to Washington DC to be near relatives in NYC? That's about the distance between the Oregon state line and the Bay area. Ashland is a great place but also very expensive. Sunriver is even farther away. How important is it that you actually live in proximity to any relatives?

trippinkpj

Davis is a good suggestion. I have friends who live there, and it's relatively centrally located spot in the Northern CA region.