Jay,
Sounds like you've found a good investment! I know a realtor who owns a few rental houses there. This is a great market for investors. Best Wishes to you, and spread the word!

Hi Karen,
Yes, I think it's a great place to invest. There are many nice homes for under 100 K and the rent goes for 1500-2000 per student per semester. MD is a relative good state for education and Frostburg State is under a Maryland system. Enrollment is up. Crime is low. We have made an investment there and hope for the best.

I thought tuition was going to hold the line for a little while.

I heard the other day that college tuition has outpaced inflation 8 times over! It is the single most inflated "product" in our nation.
Anyway, I just checked some stats for Allegheny County: The number of sales is down about 20% from this time last year, the average home price is down just over 15% from last year. The average days on Market is up to 121 from 107 last year. I checked on Frostburg listings...out of 74 listings in Frostburg, there is 1 under contract. Average days on market is 223. (I'm not including the listing for $1.2 mil...it tends to throw the averages off:)
Sounds like a great opportunity for an investor who wants to rent to college kids.