Colorado Mesa University (CMU) students are facing a new challenge: finding housing. With upperclassmen no longer guaranteed on-campus accommodations, many are exploring alternative living arrangements—including long-term real estate investments.

Parents Turning to Home Purchases

In recent years, an increasing number of parents have been purchasing homes near CMU as an alternative to renting. According to Bray Real Estate, this trend has gained traction due to rising rental costs and the opportunity to build equity.

Derek Irick, a real estate agent with Bray, has seen this strategy play out year after year. “Parents buy a home, their kids move in, and their friends become roommates. After graduation, some parents sell the property, while others keep it as a rental,” Irick explained.

The Financial Appeal

The logic behind buying instead of renting is simple: appreciation and savings. Homes in Grand Junction typically appreciate between 5% and 8% annually, according to Irick.

“If a parent owns a house for three years while their child attends CMU, they could see significant financial gains,” Irick noted.

Roommates further offset costs.

• Students contribute to the mortgage, reducing financial strain.
• By the time the property is sold, parents often walk away with a profit.
• Some families retain homes as rental properties, generating passive income.

Student Housing Demand on the Rise

Despite CMU’s housing adjustments, Bray Real Estate hasn’t seen a major uptick in home purchases from parents. However, students are already planning ahead for the upcoming school year, anticipating a competitive rental market.

This concern isn’t unfounded. CMU’s freshman class this year is the largest in school history—a 35% jump from previous years. With the student body expected to continue growing, demand for housing will only intensify.

What’s Next for Students?

The shift away from guaranteed housing for upperclassmen means students will need to be more proactive. Some may turn to off-campus apartment complexes, while others might consider sharing rental homes.

Irick believes this trend will push more families toward homeownership as an alternative. “It’s a long-term play that makes financial sense,” he said. “For many, it’s not just about housing for four years—it’s an investment.”