We examined whether the presence of higher education facilities made regional towns more attractive as potential residences. Metropolitan undergraduate students reported that they were more willing to live in a regional town with (vs. without) a university. Importantly, this applied regardless of whether they intended to work or study at the university. Perceived quality of life--defined as a combination of resident sociability and happiness, and the estimated amount of activities within the town--mediated the effect of university presence on residency likelihood ratings, suggesting that the presence of a university prompted participants to infer a higher quality of life for town residents. These results have implications for policy to counteract out-migration from regional areas, which threatens food security.