By Logan Smith – bio | email

COLUMBIA, SC (WIS) – Columbia is one of the most affordable college towns in the country, according to a study by Coldwell Banker Real Estate and printed in Forbes Magazine.

The study looked at the average listing price of four-bedroom, two-bath properties listed for sale between April and September. Columbia was ranked fourth, behind Muncie, Indiana; Buffalo, New York; and Memphis, Tennessee.

[In Pictures: The most affordable college towns (slideshow)]

Columbia realtor Allan Ackerman told Forbes more parents are investing in homes because of increased tuition and board, though he cautioned against overspending. “The best thing would probably be to find someone who bought a house for their kid four years ago and is trying to get rid of it,” said Ackerman.

Southern schools fared well in the study. Besides Columbia and Memphis, the study also mentioned Louisiana Tech in Ruston and Tulane University in New Orleans.

“College markets are quintessential America,” Coldwell Banker executive Jim Gillespie told Forbes. “The economies, traditionally, in university and college towns are pretty good. There’s a stable employment base, a lot of culture and sports, and strong medical facilities, research and development.”

Copyright 2010 WIS. All rights reserved.