8. Tallahassee, Fla.: Tallahassee is the home of Florida State University, which has more than 40,000 students and ranked 102nd on U.S. News's most-recent Best National Universities list. The median home price in Tallahassee was $130,000 in the first quarter, which IHS Global Insight considers 17 percent undervalued.
9. Gainesville , Fla.: About 129 miles down the road from Florida State is Gainesville, where the University of Florida is located. The University of Florida, with about 50,000 students, is the oldest and largest university in the state and ranked 47th on U.S. News's Best National Universities list for 2010. Residents can take advantage of the university's top-notch athletic program. "All of the sports venues here are not only affordable and fun but they're quality is just not matched," says Roland Loog, the director of the Gainesville/Alachua County Visitors and Convention Bureau. Loog says the community also can benefit from the big-ticket speakers that the university attracts. "Not too long ago when Bill Clinton spoke here, we simply walked to the O'Connell Center, walked in, and listened for free," he said. "Followed by that was Michael Moore." The median home price in Gainesville was $135,000 in the first quarter, which IHS Global Insight says is 17 percent undervalued.
10. Lincoln, Neb.: Tucked into Nebraska's sweeping prairie is the city of Lincoln. With a population of nearly 250,000, Lincoln is the state capital and home of the University of Nebraska Cornhuskers. This public, land-grant university has more than 18,000 undergraduates and ranks 96th on U.S. News's most-recent Best National Universities list. In addition to the university's strong athletics program, Lincoln residents can take advantage of the University of Nebraska State Museum, the UNL Botanical Garden and Arboretum, and the Great Plains Art Museum. At $119,000 in the first quarter, the median home price in Lincoln is 16 percent undervalued, IHS Global Insight says.
11. Minneapolis-St. Paul: The University of Minnesota-Twin Cities is located in lovely Minneapolis. With more than 32,000 undergraduates enrolled, the University of Minnesota ranked 61st on U.S. News's Best National Universities list for 2010. The median home price in the Minneapolis-St. Paul area was $177,000 in the first quarter, which IHS Global Insight considers 16 percent undervalued.
12. Boston: Beantown has long been considered a great destination for college students, as a slew of first-rate universities call the Boston area home. In the Best National Universities list for 2010, U.S. News ranked Harvard University No. 1, the Massachusetts Institute of Technology No. 4, Boston College No. 34, and Boston University No. 56. The median home price in the Boston-Quincy area was $322,000 in the first quarter, 16 percent undervalued, according the IHS Global Insight's calculations.