I know that near the major universities in my region properly values are far lower because they're often rented to groups of students who are rowdy so their neighbours property values are lower since people are reluctant to buy a house that's for sale unless you're willing to either put up with it, or rent it out yourself.

The amount of off-campus housing needs increased dramatically through the 2000s as the universities expanded enrolment so many areas that weren't being rented now were. Many of the long time homeowners who lived in those areas long before student housing came there have been up in arms.