One-Year Real Estate Tuition & Aid

Tuition for students in the Penn State Smeal Master of Real Estate is determined by the University and is based on the graduate rate for students in the category of Business, EMS, Science, IST, and Engineering. Fall and spring semesters are billed on a per-semester rate, while summer is billed on a per-credit basis.

A non-refundable deposit of $500 is required to accept an offer of admission to our real estate programs. This deposit will be credited toward your fall tuition payment.

*The capstone experience includes a two-day, one-night trip to visit five real estate projects across four states. The fee covers trip-related expenses, including transportation, meals, and hotel accommodations.

Tuition rates are set by the University in mid-summer and are subject to change. To calculate tuition using the current year’s information, please use the Penn State Tuition and College Cost Calculator. Smeal Fees include Pre-Term/Orientation Fee, Career Services and Student Services Fees.

Your Career ROI

Investing in your M.R.E. is about more than tuition—it's about accelerating your career trajectory and earning potential in the real estate industry. Our graduates see strong returns quickly, with 100% securing full-time positions within six months of graduation at top firms like Deloitte, The Rockport Group, Valbridge Property Advisors, and World Wide Land Transfer. The Penn State Smeal MRE delivers competitive outcomes that reflect the quality of our program, the strength of our network, and the dedication of our career services team to your success.

• 100% Employed within 6 Months

• $80,000 Average Starting Salary

• $115,000 High Salary Reported

Based on Class of 2025 outcomes (6 months post-graduation).

Financial Support

The Penn State Smeal College of Business Real Estate Analysis & Development master's programs have merit scholarships available for admitted students. All applicants are automatically considered for funding, and there is no additional application necessary. For full consideration, candidates should apply by the third round deadline. If you have additional questions, please contact the admissions team at realestate@smeal.psu.edu.

Research Assistantship

After enrollment, a few positions are available to work with faculty as a research assistant (RA) during the spring semester. RAs can have hands-on experience in cutting-edge research and be compensated on an hourly basis. Current real estate graduate students can email realestate@smeal.psu.edu to express interest in these positions by the end of the fall semester. RAs are selected based on the applicants’ summer and fall performances.