How Student Housing Rents Stack Up Against Market Rate

Rents near college campuses are typically more expensive than the average multifamily rents in the same market. A recent report from Yardi’s Rent Café analyzed rents within one-mile of college campuses across the country, and found that 67% of rent prices near universities are higher than the city average. This is largely due to the strong demand for housing near campus, walkability and proximity to campus. The trend was true for most California campuses as well, although there wasn’t a specific pattern as to campuses that did have higher rents versus those that didn’t.

“While our study did not show a specific pattern when it comes to city averages compared to rent prices within a mile of California’s most prestigious universities, it’s no surprise that the appeal of the campus location influences prices just as much as a college’s reputation does,” Alexandra Ciuntu of Rent Café tells GlobeSt.com. “Being home to some of the country’s most prestigious universities does not necessarily mean rents near California colleges are higher than the averages in the cities they are located in. Rents near the University of California, Riverside is among the most affordable among the top colleges in the state, but the Riverside city average is a more affordable $1,533 per month. Same goes for San Diego, where the average rent is $2,153 while renting near the University of San Diego is $2,349/month.”