{"id":18381,"date":"2023-10-02T22:40:26","date_gmt":"2023-10-02T22:40:26","guid":{"rendered":"https:\/\/www.renthop.com\/research\/?p=18381"},"modified":"2023-10-05T13:50:06","modified_gmt":"2023-10-05T13:50:06","slug":"college-rent-report","status":"publish","type":"post","link":"https:\/\/www.renthop.com\/research\/college-rent-report\/","title":{"rendered":"The RentHop College Rent Report: October 2023"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">In this first edition of the RentHop College Rent Report, we sought to understand how the current rise in housing prices nationwide has affected college and university students. To find out, we analyzed all off-campus housing listings near popular U.S. colleges to see which schools had the cheapest and most expensive off-campus housing options.<\/span><\/p>\n<h2>Key Findings:<\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.renthop.com\/apartments-for-rent\/new-york-ny\/new-york-university\">New York University<\/a> has the most expensive off-campus housing among the 150 largest U.S. colleges. The median rent around the campus is $4,800 per month.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">That\u2019s six times higher than the median rent, $800\/month, around Ball State University in Muncie, IN.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Off-campus housing is generally more expensive in coastal cities than schools in the Midwest and South.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">In places like <a href=\"https:\/\/www.renthop.com\/apartments-for-rent\/new-york-ny\">New York<\/a> and <a href=\"https:\/\/www.renthop.com\/apartments-for-rent\/los-angeles-ca?mbr=33.82978452104538%2C-118.88422306888282%2C34.38013742132325%2C-117.9380255591172&amp;areas=los-angeles-ca&amp;m=true\">Los Angeles<\/a>, it\u2019s practically impossible for students to live on their own. Most would need multiple roommates to make off-campus housing an affordable option.<\/span><\/li>\n<\/ul>\n<h2>The 10 Schools Where It\u2019s Most Expensive to Live Off-Campus<\/h2>\n<p><span style=\"font-weight: 400;\">The list below highlights the most expensive colleges for off-campus housing. Not surprisingly, most of these schools are located in coastal cities with higher living costs. The median rent around New York University is $4,800, six times higher than the median rental cost around Ball State University in <a href=\"https:\/\/www.renthop.com\/apartments-for-rent\/muncie-in\">Muncie, IN<\/a>. Housing around these schools is so expensive that it is nearly impossible for most students to live alone. Most students will need multiple roommates to make rent somewhat affordable.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u200b\u200bMeanwhile, many schools in the LA metro within the University of California system also rank as some of the most expensive colleges for off-campus housing. At <a href=\"https:\/\/www.renthop.com\/apartments-for-rent\/irvine-ca\">UC Irvine<\/a>, students can expect to spend $3,975 monthly living off-campus. Rental units around UC San Diego, while slightly cheaper, still require a monthly commitment of $3,495.<\/span><\/p>\n<h3>The 10 Most Expensive Colleges for Off-Campus Housing<\/h3>\n<ol>\n<li><span style=\"font-weight: 400;\"> New York University (New York, NY) \u2013 $4,800\/month median rent<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Columbia University in the City of New York (New York, NY) \u2013 $4,102\/month<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> University of California Irvine (Irvine, CA) \u2013 $3,975\/month<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> University of California Santa Barbara (Santa Barbara, CA) \u2013 $3,895\/month<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> University of California Los Angeles (Los Angeles, CA) \u2013 $3,699\/month<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> University of Miami (Coral Gables, FL) \u2013 $3,650\/month<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Harvard University (Cambridge, MA) \u2013 $3,600\/month<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Stanford University (Stanford, CA) \u2013 $3,595\/month<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Boston University (Boston, MA) \u2013 $3,500\/month<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> University of California San Diego (San Diego, CA) \u2013 $3,495\/month<\/span><\/li>\n<\/ol>\n<h2>The 10 Schools Where It\u2019s Most Affordable to Live Off-Campus<\/h2>\n<p><span style=\"font-weight: 400;\">Contrary to what we see in coastal cities, housing around colleges in the Midwest and parts of the South is generally more affordable. At Ball State University, students can find housing for as little as $800\/month. Meanwhile, those attending Michigan State University can expect to allocate around $975 a month on off-campus housing, less than half of what students at the University of Michigan\u2013Ann Arbor would need to spend, $2,100\/month.<\/span><\/p>\n<h3>The 10 Most Affordable Colleges for Off-Campus Housing<\/h3>\n<ol>\n<li><span style=\"font-weight: 400;\"> Ball State University (Muncie, IN) \u2013 $800\/month median rent<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Clemson University (Clemson, SC) \u2013 $835\/month<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Iowa State University (Ames, IA) \u2013 $870\/month<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> University of Iowa (Iowa City, IA) \u2013 $875\/month<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Sam Houston State University (Huntsville, TX) \u2013 $902\/month<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> West Virginia University (Morgantown, WV) \u2013 $912.50\/month<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Kent State University (Kent, OH) \u2013 $922.50\/month<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> University of Missouri (Columbia, MO) \u2013 $927.50\/month<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> University of Nebraska\u2013Lincoln (Lincoln, NE) \u2013 $970\/month<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Michigan State University (East Lansing, MI) \u2013 $975\/month<\/span><\/li>\n<\/ol>\n<h2>The U.S. Has a Student Housing Affordability Crisis<\/h2>\n<p><span style=\"font-weight: 400;\">America\u2019s student housing affordability crisis has worsened in the past few years. Rental prices across the country have increased significantly over the past few years since the pandemic due to dwindling supply and population shift. Such <\/span><b>drastic rent growth<\/b><span style=\"font-weight: 400;\"> forced students to compete with more renters for lower-priced units. In cities like New York, Boston, Los Angeles, and Miami, it is practically impossible for an average college student to rent a one-bedroom apartment on their own. <\/span><b>Renting with roommates is the only way to secure housing<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><b>Rising interest rates<\/b><span style=\"font-weight: 400;\"> also intensified the student housing crisis. As mortgage rates go up, more renters delay their home purchase and stay renting, and supply struggles to catch up with the demand.<\/span><\/p>\n<h3>Affording Off-Campus Housing<\/h3>\n<p><span style=\"font-weight: 400;\">High school students, undergraduate underclassmen, potential graduate students, and family members who will help their students with college finances can all consider a school\u2019s off-campus housing costs. Paying for housing while in school can be expensive, and students should budget for this additional cost. Students can work a job on or off campus or acquire an additional loan to cover the upfront housing costs. Additional loans must be repaid with interest, and students should be mindful of their post-graduate expenses as they head into the workforce.\u00a0<\/span><\/p>\n<h2>Methodology<\/h2>\n<p><span style=\"font-weight: 400;\">The RentHop College Rent Report analyzes rental data from over one million active off-campus rental listings located near U.S. college campuses over the three months prior to publication. To produce the ranking, the median price for all listings within 2 miles of the center of campus was taken and ranked from most expensive to least. If there were not enough listings within 2 miles of the campus, we then expanded the radius to ensure that enough listings were included. In denser and more developed cities, the radius was reduced accordingly to reflect housing availability around the campus.<\/span><\/p>\n<p>The following listing types were used to calculate the median rent price: apartment, house, townhouse, and triplex. Values refer to the median of all bedroom types, i.e., not just a one-bedroom or two-bedroom off-campus apartment.<\/p>\n<p>For more information on our methodology or to contact our data team, please email <a href=\"mailto:press@renthop.com\">press@renthop.com<\/a>.<\/p>\n<h2>Full Data<\/h2>\n<p>Here are two images of the schools ranked by median rent for easy sharing. You can also search by city or college using the interactive data table at the bottom of the report.<\/p>\n<div style=\"width: 100%; height: auto; margin-left: auto; margin-right: auto;\">\n<table style=\"height: 593px;\" width=\"696\">\n<tbody>\n<tr>\n<td style=\"text-align: center; margin: 0px auto;\"><a href=\"https:\/\/www.renthop.com\/research\/wp-content\/uploads\/sites\/2\/2023\/10\/college-rent-report-oct-2023-1-scaled.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-6008\" title=\"RentHop College Rent Report #1\" src=\"https:\/\/www.renthop.com\/research\/wp-content\/uploads\/sites\/2\/2023\/10\/college-rent-report-oct-2023-1-scaled.jpg\" alt=\"\" width=\"800\" height=\"800\" \/><\/a>(Click on the image to zoom in)<\/td>\n<td style=\"text-align: center; margin: 0px auto;\"><a href=\"https:\/\/www.renthop.com\/research\/wp-content\/uploads\/sites\/2\/2023\/10\/college-rent-report-oct-2023-2-scaled.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-6008\" title=\"RentHop College Rent Report #2\" src=\"https:\/\/www.renthop.com\/research\/wp-content\/uploads\/sites\/2\/2023\/10\/college-rent-report-oct-2023-2-scaled.jpg\" alt=\"\" width=\"800\" height=\"800\" \/><\/a>(Click on the image to zoom in)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h3><\/h3>\n<h3>Interactive Data Table<\/h3>\n<p>Entries in the interactive data table are ordered by enrollment population.<\/p>\n<div style=\"max-width: 1068px; width: 100%; height: auto;\"><iframe loading=\"lazy\" style=\"sroll: hidden;\" src=\"https:\/\/www.renthop.com\/research\/wp-content\/uploads\/sites\/2\/2023\/10\/college-rent-report-full-data-oct-2023.html\" width=\"100%\" height=\"760\" frameborder=\"0\" data-mce-fragment=\"1\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><\/iframe><\/div>\n","protected":false},"excerpt":{"rendered":"<p>In this first edition of the RentHop College Rent Report, we sought to understand how the current rise in housing prices nationwide has affected college and university students. To find out, we analyzed all off-campus housing listings near popular U.S. colleges to see which schools had the cheapest and most expensive off-campus housing options. Key [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":18413,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-18381","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-insights"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.4 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The RentHop College Rent Report: October 2023 - Real Estate Data &amp; Research<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.renthop.com\/research\/college-rent-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The RentHop College Rent Report: October 2023\" \/>\n<meta property=\"og:description\" content=\"In this first edition of the RentHop College Rent Report, we sought to understand how the current rise in housing prices nationwide has affected college and university students. To find out, we analyzed all off-campus housing listings near popular U.S. colleges to see which schools had the cheapest and most expensive off-campus housing options. 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