EXHIBIT 23

                          INDEPENDENT AUDITOR'S CONSENT

We consent to the incorporation by reference into AMREP Corporation's previously
filed  Registration  Statements  on Form S-8 Nos.  33-67114 and 333-17695 of our
report,  dated June 13, 2003,  appearing  in this Annual  Report on Form 10-K of
AMREP Corporation for the year ended April 30, 2003.





Davenport, Iowa
July 25, 2003