View this interactive chart to find the average rental prices at a university near you. : College towns have long been appealing to investors because of steady rental returns, but rental prices can vary significantly depending on the nearby university. For example, the college town with the lowest rents is Champaign, Ill., home to the University of Illinois. The average rent within a one-mile radius of the university is $890, which is $506 cheaper than the city’s average. RentCafe.com analyzed the price of apartments located within a one-mile radius of the top 100 universities in the U.S.