A recent report by Redfin, a Seattle-based residential real estate firm, lists Rochester as one of the best college towns in which to buy an investment property.
Rochester, specifically the area near the University of Rochester, ranked No. 8. The report lists a median list price for homes of $114,900; UR tuition and fees of just over $50,000; a walkability index, or Walk Score, of 64; and colleges ranking of 32. It was the only college town in New York to make the list.
The best college town for investment, according to the report, is around Atlanta’s Georgia Institute of Technology, where the median home price is $235,000. Tuition and fees are $32,404. The priciest locale on the list was Nashville, Tenn., near Vanderbilt University, where the median home price was $520,000.
Redfin explains investing in a home near a college has perks: rent prices are typically stable, there’s always a new pool of tenants looking for places to live, and if you eventually decide to live in the home yourself, there are often myriad great amenities nearby. Its methodology includes tuition cost and fees, the most recent U.S. News and World Report ranking of colleges and universities, median list price for homes near the school and Walk Score.
Only places with median prices of less than $550,000 were considered.
The back story
Excellus BlueCross BlueShield’s Jim Redmond got some national play this week with the arrival of the June issue of Consumer Reports magazine.
Its cover story, “Real relief from back pain,” included a piece titled, “Who will pay the bill? Try these smart strategies to help get coverage for hands-on therapies.” Jim, regional vice president of communications and community investments at the Blues, tells the magazine that insurance companies often cover several visits for chiropractic care and physical therapy, but only very expensive plans tend to cover acupuncture, massage and yoga.
The article describes a Blues pilot program that found educating doctors about a restrained approach to back pain was paying off for patients and the bottom line. “Imaging, visits to specialists or the emergency room, surgery, opioid prescribing and costs all decreased,” he tells the publication, “while patient satisfaction went up.” The section on back pain contains an array of articles ranging from medical care to alternatives to do-it yourself gadgets and gizmos.
Send tips, rumors, inside information or strange tales for the Loop to Managing Editor Mike Dickinson at email@example.com.
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