Rents near college campuses are typically more expensive thanthe average multifamily rents in the same market. A recent reportfrom Yardi's Rent Café analyzed rents withinone-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 mostCalifornia campuses as well, although there wasn't a specificpattern as to campuses that did have higher rents versus those thatdidn't.

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

Top universities also offered more affordable rents, generally.“Renting within one mile of higher-ranked universities inCalifornia is cheaper than the city average, so the money saved ontransportation may soften the blow of California prices,” addsCiuntu. “Rents within one mile of the University ofCalifornia-Berkeley go for $3,197 compared to the $3,167 Berkeleycity average, and Stanford U students pay $3,958 to rent nearcampus compared to renting for $3,970 in the rest of Stanford.”