Master of Science [M.S] [Real Estate] From DePaul University

DePaul University Master of Science in Real Estate is a 12-month to 18-month full-time graduate degree offered at the Kellstadt Graduate School of Business in Chicago. The program requires 48 credit hours (12 courses) and is open to international students. Total program cost is approximately USD 46,413 (INR 44.22 Lakhs) for the full duration. Intakes are offered quarterly: January, April, June, and September. The program is delivered on-campus in Chicago’s financial district. Minimum English proficiency and a bachelor’s degree are required; GMAT/GRE scores are optional. This specialized degree trains real estate professionals in financial analysis, investment strategy, valuation, and development—equipping graduates for leadership roles in a USD 17 trillion global real estate market.

DePaul’s MS Real Estate stands out for its location in Chicago, one of North America’s most active real estate markets, and its connections to industry leaders through the Kellstadt network. The program emphasizes practical, case-based learning with guest speakers from major real estate firms, investment banks, and development companies. Ideal applicants are finance professionals, engineers, architects, and career-changers seeking specialized expertise in real estate investment and asset management. Graduates enter roles as real estate analysts, investment managers, development managers, and acquisition specialists at firms like CBRE, JLL, Cushman & Wakefield, and in-house at Fortune 500 companies.

• Quarterly intake flexibility allows fast entry to the job market with minimal application delay.
• Chicago’s position as a global real estate hub provides internship access and post-graduation job placement in a thriving market.
• Optional GMAT/GRE removes barriers for career-changers and working professionals with strong prior experience.

Also Check: DePaul University Master of Science in Real Estate Admission

DePaul University Master of Science in Real Estate Fees and Living Costs 2026

The Master of Science in Real Estate is a fixed-cost program with transparent tuition structure. All figures below are for international students and include mandatory fees.

Tuition covers classroom instruction, access to the Kellstadt network, and online learning platforms. Technology fees support hybrid course delivery and case-study software (ARGUS, Bloomberg). Health insurance is mandatory for international students and covers preventive care, specialist visits, and emergency services.

• Books and course materials average USD 100 per course; budget USD 1,200 to USD 1,400 for the full program.
• Internship-related travel within Chicago is typically unpaid, but reimbursement policies vary by employer.
• The Kellstadt Graduate School offers payment plans that spread tuition over 12 or 18 months, reducing upfront financial burden.
• Some students secure employer sponsorship or educational loans from India-based lenders that recognize US graduate degrees.

All INR conversions in the article use a conversion rate of USD 1 = INR 95.26 as of June 2026. Rates fluctuate daily; verify before applying.

Cost of Living in Chicago for Master of Science in Real Estate Students

Visa Reality: Chicago’s cost of living is 12% lower than New York or San Francisco, making it attractive for international students. Indian students often find shared apartments with other cohort members, which reduces monthly rent by 15-20%.

DePaul University Master of Science in Real Estate Admission 2026

DePaul’s MS Real Estate welcomes international students with diverse academic and professional backgrounds. There is no minimum GPA requirement explicitly stated, but the program expects foundation-level competency in algebra and financial concepts.

DePaul University’s Kellstadt Graduate School of Business holds AACSB accreditation, positioning it in the top 5% of business schools globally. The university itself is ranked 67th in the US News Best Business Schools rankings (2025), reflecting strength in finance and real estate education.

English Language Proficiency Block for Indian Applicants

International students from non-English-speaking countries must demonstrate English proficiency. DePaul accepts multiple tests with the thresholds listed below.

• TOEFL iBT: minimum 80 overall, 17 in each section (Reading, Listening, Speaking, Writing). Score validity: 2 years from test date.
• IELTS: minimum 6.5 overall band, with no section below 6.0. Test is accepted globally and results are valid for 3 years.
• Duolingo English Test: minimum 115 (if accepted in your country). Results available within 2 days; validity is 2 years.
• English medium bachelor’s degree from India: many students secure automatic waiver from DePaul if their bachelor’s institution is listed on the university’s approved list (typically NAAC-accredited engineering or commerce colleges).

Tip for Indian Students: IELTS is the most cost-effective for Indian applicants (around INR 17,500) and has wider global acceptance. TOEFL iBT costs INR 22,000 but is often viewed as more rigorous by US universities.

Application Intakes and Deadlines

Honest Take: Fall (September) intake is the most competitive, attracting US and international talent. Winter and Spring intakes have higher acceptance rates and smaller cohort sizes, but fewer internship opportunities. Indian students often target Fall or Winter to align with visa processing timelines.

DePaul University Master of Science in Real Estate Application 2026

The application process is streamlined and conducted fully online through the DePaul Graduate Admissions portal. International applicants must submit credentials before the intake-specific deadline.

Submit transcripts (WES-evaluated for international students), a statement of purpose, resume, and optional GMAT/GRE scores through the online portal. Application fees for international students are waived for applicants submitting within 30 days of creating an account.

Application Tip: Submit applications at least 5-7 days before the deadline to avoid portal delays. Indians often submit in mid-September for October 15 Fall deadline to account for WES processing time.

DePaul University Master of Science in Real Estate Scholarships 2026

DePaul offers merit-based scholarships and assistantships to both domestic and international graduate students based on academic profile, professional experience, and statement of purpose. Most scholarships are awarded at the time of admission.

Merit-based scholarships typically range from USD 5,000 to USD 20,000 per year (INR 4.77 Lakhs to INR 19.05 Lakhs). These awards are non-renewable annually but replace tuition; a USD 10,000 scholarship reduces total 12-month cost from USD 34,942 to USD 24,942 (INR 23.77 Lakhs). Teaching or research assistantships worth USD 7,500 (INR 7.15 Lakhs) per year are available to full-time students who work 10-15 hours per week supporting faculty research or course delivery.

• Scholarships are rolling-basis decisions, meaning earlier applicants have higher award probability.
• International students with GMAT/GRE scores above 650/320 respectively are more likely to receive merit awards.
• Alumni discount: DePaul graduates applying to the MS Real Estate receive 25% tuition reduction, making total cost USD 26,207 (INR 25 Lakhs) annually.
• External scholarships: Indian students are encouraged to explore scholarships from organizations like the Inlaks Foundation, Association of Indian Professionals (AIP), and state-specific schemes.

Scholarship Reality: Average scholarship for MS Real Estate students is USD 8,000-12,000, offsetting 25-35% of tuition. International students should not count on full-ride scholarships; most cover tuition only, leaving living costs to be self-funded.

DePaul University Master of Science in Real Estate Salary and Placements 2026

DePaul’s MS Real Estate graduates have a 91% employment rate within six months of graduation. Median salary for master’s-level graduates across DePaul is USD 64,000 (INR 60.97 Lakhs) annually. Real estate-focused graduates often earn higher starting salaries due to the specialized skill set and market demand in Chicago and major US metros.

Source: DePaul Career Outcomes Survey 2025, CBRE Salary Guide 2026, PayScale Master’s Graduates Database.

Gross salary shown above represents total compensation before taxes. US federal income tax on a USD 64,000 salary is approximately 12-15%; Illinois state tax adds 5%; total take-home is approximately USD 50,000 to USD 54,000 (INR 47.63 Lakhs to INR 51.44 Lakhs). Use the IRS Tax Withholding Estimator to calculate precise net pay.

• Signing bonuses range from USD 5,000 to USD 15,000 for entry-level real estate analyst roles at tier-1 firms.
• Chicago-based employers dominate, but graduates also secure roles in New York, Los Angeles, San Francisco, and Atlanta.
• Internship placement rate is 87%; most students secure summer internships between their first and second semester, often leading to full-time offers.
• Career pivot: finance professionals earn 5-10% above baseline due to prior quantitative expertise recognized by employers.

ROI Reality: Total program cost (USD 52,413) is recovered within 12 months of full-time employment at a median salary of USD 64,000. Five-year cumulative earnings for MS Real Estate graduates exceed USD 350,000 (INR 3.33 Crores), making this one of DePaul’s highest-ROI master’s programs.

United States Visa Pathway for Master of Science in Real Estate Students

International students attend DePaul on an F-1 Student Visa, which permits full-time study and on-campus employment up to 20 hours per week. Upon graduation, students are eligible for Optional Practical Training (OPT), which extends legal work authorization by up to three years total if the degree is STEM-designated.

• F-1 visa processing takes 4-6 weeks after document submission to a US consulate in India; initiate application two months before your intended start date.
• OPT work permit is valid for 24 months base period plus an additional 24-month STEM extension, allowing six years total authorized employment in the United States post-graduation.
• H-1B skilled worker visa sponsorship is available after OPT; employers typically sponsor after the graduate has worked 12-18 months and proven field specialization.
• Spouse and dependent visa (F-2) rules: spouses cannot work in the US, though dependents may attend school under F-2 status.

Read More: USA Student Visa Process for Indian Applicants

Visa Reality: DePaul is I-20 certified and a trusted institution with SEVIS. Processing is straightforward for Indian applicants with clear financial documentation (bank statements, sponsor affidavits). Most F-1 visas are approved within 48 hours of interview.

Real estate master’s programs do not have subject-specific rankings from QS, THE, FT, ARWU, or US News. Instead, prospective students evaluate programs by internship placement rates, employer recruitment presence, and case-study competition results. DePaul students regularly compete in the ULI Hines Student Competition and ARGUS Software University Challenge, securing top-10 finishes against peer schools including Cornell, Emory, and Harvard.