Many college students and their parents have to decide between on- or off-campus housing. In 28 of the 48 biggest college towns in the country, it was either the equivalent or cheaper to live off-campus.
The average monthly savings in off-campus housing in these 28 towns is $219 per month. The cost of on-campus housing isn't limited to the cost of the dorm room alone. Meals are including in the housing options for eight out of the 28 institutions, and if those are removed from the study, the monthly savings is $146 for off-campus living, according to Trulia housing economist Felipe Chacón's report.
In places where the math tips in favor of on-campus housing before considering other costs, it can be tricky to find an off-campus option for less, based on our assumptions. Among the places we looked, UC Berkeley students face the most expensive rents both on- and off-campus. Still, living on-campus for an estimated $1,861 per month is $402 cheaper than splitting a market-rate unit in the city of Berkeley.
Advertisement
Related Stories
New-Home Sales
Mortgage Rates Are Up but New-Home Sales Still Solid in March
Lack of existing home inventory drove a rise in new-home sales, despite higher interest rates in March
Labor + Trade Relations
Who's Earning What in Construction
Workers in construction management roles may earn a higher median wage, but on average, lower-paid occupations have experienced somewhat faster wage growth
Build to Rent
Build-to-Rent Is Booming, Particularly in These Metros
A recent report finds that the Phoenix metro leads with more than 4,000 build-to-rent units completed in 2023, and Texas is the leading state for build-to-rent development
