What you are asking is the same as this classic rom-com reference:"Can you ever think of a universe where we would be together?""

The prices went up so much and can varies so drastically from one property to another that is really hard to find a universal rule of thumb. 

Cedar Rapids has the advantage of being a short commute away from Iowa City, which is where the University of Iowa is located.

Monthly payment comes to $917,  plus another $350 for taxes and insurance so ~$1280/month due to the seller.Using a private money lender to fund the deal, borrowing ~$130,000 @ 10% interest rate, interest only, principal + interest paid as a balloon after completion  or 12 months.House is a 3br/1ba 950sqft. near a university.

In my small city (70,000 or so) we have a university with about 20,000 students with a nursing school, hospital, and obviously several mid size employers that I’m sure have people travel into this area for business purposes.  

If you are near a university, check out SabbaticalHomes or see if the universities have listings targeted toward their visiting scholars.

I am a senior baseball player at the University of Memphis.

I was a former kicker for the University of Arkansas and now a wholesaler at Diamond Acquisitions.

I'm considering investing in a rental property near the University of Illinois Urbana-Champaign in Champaign. 

Properties do not need to be in walking distance of the university to still be in high demand for college students.