MortgageReal Estate

Hey students, can you afford to live here?

RentCafé lists the most affordable rental markets for students

The cost of renting the average one-bedroom or two-bedroom unit surpassed $1,200 in March, highlighting the nation’s lack of rental affordability.

And with nearly 50% of U.S. renters spending 30% or more of their income on housing, it’s safe to say the rental market has left many struggling.  

This is especially so for student renters who are suffocating under more than $1.5 trillion worth of student loan debt.

As most students tend to live close to their schools of choice, finding an apartment that meets their price point is extremely important.  

A report conducted by RentCafé using Yardi Matrix data analyzed the price of apartments located within a 1-mile radius of the top 100 universities in the U.S. as ranked by U.S. News. 

According to their data, these five universities have the most affordable rental prices within 1 mile of their main campus:

5. Rensselaer Polytechnic Institute, NYAt this university the average rent within 1 mile is $1,115 whereas the average city rent in Troy reaches $1,110.

4. Loyola University Chicago, ILAt this university the average rent within 1 mile is $1,110 whereas the average city rent in Chicago reaches $1,898.

3. Lehigh University, PAAt this university the average rent within 1 mile is $1,082  whereas the average city rent in Bethlehem reaches $1,234.

2. College of William and Mary, VAAt this university the average rent within 1 mile is $934 whereas the average city rent in Williamsburg reaches $1,191.

1. The University of Illinois Urbana-Champaign, ILAt this university the average rent within 1 mile is $890 whereas the average city rent in Champaign reaches $1,396.

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