The pool table in the young men’s Great Room is the site of raucous games and taco dinners. “You definitely appreciate it when you visit your friends at other schools and they say, ‘O.K., sleep on the floor,’ ” Mr. Dhillon said.

A confluence of factors led to the unlikely presence of students in subdivisions, where the collegiate promise of sleeping in on a Saturday morning may be rudely interrupted by neighborhood children selling Girl Scout cookies door to door.

This city of 79,000 is ranked third nationally in metropolitan-area home foreclosures, behind Las Vegas and Vallejo, Calif., said Daren Blomquist, a spokesman for RealtyTrac, a company based in Irvine, Calif., that tracks housing sales. The speculative fever that gripped the region and drew waves of outside investors to this predominantly agricultural area was fueled in part by the promise of the university itself, which opened in 2005 as the first new University of California campus in 40 years.

The crash crashed harder here. “Builders were coming into the area by the bulkload,” said Loren M. Gonella, who owns a real estate company here. “It was, ‘Holy moly, let’s get on this gravy train.’ ”

But visions of an instant Berkeley materializing in the cow pastures were premature. The stylishly designed university planned for a gradual expansion, adding 600 new students a year. That has meant phased dorm construction, which is financed with tax-exempt bonds repaid by student revenue. There is room for only 1,600 students in the campus dorms, but 5,200 are enrolled.

With hundreds of homes standing empty, many of them likely foreclosures, students willing to share houses have been “a blessing,” said Ellie Wooten, a former mayor of Merced and a real estate broker. Five students paying $200 a month each trump families who cannot afford more than $800 a month.

The university’s free transit system, Cat Tracks, stops at student-heavy subdivisions. There are also limitless creative possibilities, with décor ranging from a Kappa Kappa Gamma sorority bedroom motif to an archetypal male nightstand overflowing with empty bags of Flamin’ Hot Cheetos.