Tuition & Aid

Discover the tuition and financial aid options for the Master of Science in Real Estate Analysis and Development at the Penn State Smeal College of Business. Learn about the graduate tuition rates based on specific categories and the billing system for each semester. Secure your spot by submitting a non-refundable deposit, and explore the estimated expenses for the upcoming academic year. Find out about merit scholarships and automatic consideration for funding. Apply by the deadline to maximize your chances and contact the admissions team for further assistance.

Tuition for students in the Penn State Smeal Master of Science in Real Estate Analysis & Development 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.

2023-2024 MS-READ Estimated Expenses
Expenses PA Resident Non-PA Resident
Summer Tuition 
(Part-Time Per Credit)
$1,086/credit $1,803/credit
Fall Tuition 
(Full-Time Per Semester)
$13,292/semester $22,495/semester
Spring Tuition 
(Full-Time Per Semester)
$13,292/semester $22,495/semester
Software and ARGUS exam $600 $600
Student Fees $562 $562
  Estimated Total: $34,262 Estimated Total: $56,970

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.

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

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 to express interest in these positions by the end of the fall semester. RAs are selected based on the applicants’ summer and fall performances.