This has been a year of learning. And while you knew that it would be an educational one for your 22 year old daughter as she entered a one year accelerated nursing program, you regret that as parents you had to join in the lessons she learned about student housing. Although she had been looking at other apartments nearby, your daughter was tempted by the new complex that was going up just a block from where the majority of her classes would meet. Unfortunately, almost known of the promises that the leasing company offered were fulfilled and you have had many sleepless nights concerned about her safety.
Once it was evident that the apartment was not going to secure the building you attempted to talk your daughter into moving to one of the apartments nearby that she had once considered. Your daughter countered that she did not have time to move again while she was in the middle of her year of study. As a compromise, you purchased a doorbell that monitored the motion in front of her apartment door. Off campus housing comes in many forms, and while you believe that at some point this particular complex will be a great place to stay, now is not that time. The only benefit is that after some serious conversations with the leasing office they have significantly reduced the rent your daughter pays, making it much cheaper than the other apartments nearby. In theory, the rent will go back up when all of the amenities are completed. Both you and your husband, however, do not see any of these completions happening within the next six months and before your daughter will move out and be working at her first job.
Student Housing Options Can Vary from One City to the Next
The days of students only having an on campus option for housing when they go to school are no more. In fact, as leasing agencies enter the market for providing off campus student housing options come in many forms of student rental units. Some are pricey, some are individual bedrooms with bathrooms that share a common kitchen and living space, and some are more like the kind of dorms that some of us are accustomed to. And while there are also many kinds of apartments nearby college campuses, it is important to note that there are many kinds of real estate companies that are buying up as many properties as possible to make sure that they are able to offer the kinds of places that are the most popular.
One of the items that makes some apartments more desirable is when they are pet friendly. And as more and more options are available, the reality is that if you are willing to pay what is asked, you can likely pay exactly the kind of apartment that you are looking for. Campus housing has had to adjust to the high demands made by some students. Coming from their large homes where they have had their own bedroom and bathroom, there are fewer and fewer new college students who want to make the adjustment and move into the tiny dorm rooms of the past. As a result, it is important to note that even the campuses themselves are making changes in the offerings that they have.
Consider some of these facts and figures about the current housing industry and the impact that it has on both the students in college and other people as well:
- It may not surprise you to know that as many as 33% of renters move every year.
- In fact, as many as 2,654 individuals enter the rental market every day in need of housing, according to the Rental Protection Agency.
- 87% of students live off campus, according to a 2016 New York Times article.
- More U.S. households are now headed by renters than at any point since at least 1965, according to a 2017 analysis of Census Bureau housing data conducted by Pew Research Center.
- Monthly rent and utility bills should represent no more than 30% of a monthly net (after tax) income, according to BestColleges.com and other financial experts.
Knowing the limits of your current budget can help you find the rental that will work the best for you.