Welcome to the College Real Estate Page for Washburn University in Topeka, Kansas. Many parents ponder whether they should buy or rent while their students attend college. For some the answer is to buy and for others the answer is to rent. College Real Estate hopes to help you find which is the right answer for you. Another great tool in helping you decide is our College Real Estate guide book that walks you through the entire process of buying student property. We hope you find this site useful and welcome any and all feed back. If you would like to be connected with a College Real Estate's exclusive Realtor in Topeka, Kansas please visit our buying page. If you have decided that buying student housing is not the right answer for you and would like to be connected with a leasing specialist please visit our leasing page.
As one of the last city-chartered schools left in the state, Washburn University holds a unique place at home in Topeka, Kansas. The public institution is made up of 7,870 undergraduate students, 1.140 graduate students, and 550 faculty members. Washburn’s student population proudly carries the mascot title of “Ichobods,” a tribute to Ichobod Washburn, one of the school’s earliest benefactors who saved the school from bankruptcy in 1868. Male athletic teams are known as “The Ichobods,” which has developed into a serious looking, tuxedo-clad graphic, while female athletes are nicknamed the “Lady Blues”.
A smaller student body allows Washburn to keep class size down, with less than 20 students in 44% of all undergraduate classes. U.S News and World Report has recognized Washburn as the sixth best master’s level public university in the Midwest for 2007, making this the seventh consecutive year the school has seen a top ten ranking in this category. If you are headed off to join the ranks of Ichobods in Topeka, you can expect to pay $4,920 annually if you are a Kansas resident and approximately $11,130 per year if you’re coming from out of state. Room and board averages about $4,750 per year.
Topeka is the capital of Kansas, covering 57 square miles with 126,000 residents. Washburn is located in the heart of Topeka, surrounded by the Campus Hill neighborhood. Many students do live on campus, but if you are interested in some off campus housing options, we have good news. When it comes to real estate, Topeka is ranked the 6th most economical housing market in the United States!
Investment houses are aplenty in the areas surrounding Washburn University. While no particular area of town draws an overwhelming student crowd, the areas closest to the school naturally have the most leasing and investment properties available. Just one block over from the school, a new development area has just opened, bringing many new options to the area. Each side of the school offers a little different feel…homes west of Washburn tend to be older homes in the English Tudor style, which run anywhere from $150K to $200K, and directly east of campus you will find more “fixer-uppers” that sell for $30K to $50K. Overall, an average 2 bedroom house sells for $50K to $90K in Topeka. The housing market has seen a slump this year, which increases the investment options out there, but it also hurts a bit when it comes to property appreciation. In the past, appreciation averaged 15% over 5 years, but now realtors are expecting 10% appreciation for the next couple of years.
Apartment leasing is another option, and a new large apartment complex has just opened up near the university. In addition, the city has several complexes built in the 1970’s. A typical one bedroom apartment in one of these older complexes will lease for $250 per month while a three bedroom averages around $750. Leases usually run for 12 months and occupancy is estimated at 90-95%, so you may want to begin looking in early summer for an August lease.
College Real Estate’s goal is to make the moving transition as worry and stress free as possible so we have created a moving center which provides you with helpful information from your utility providers to local grocery centers, restaurants, churches and much more.
College Real Estate also offers a How To database that will keep a new homeowner or those of you renting a house or an apartment from paying an arm and a leg for a service that can easily be done yourself. You can learn how to fix the garbage disposal, light the pilot light, the best way to get rid of rodents, and many other useful lessons. We invite you to take advantage of this knowledge or even post your own helpful article.