Real estate prices in college towns are making it hard for students to afford housing for the upcoming school year.
More than a third of college students, 35%, say they cannot afford to rent an apartment in their college town this fall. Nineteen percent say their parents are helping them pay rent this year after they didn't need help last year, according to a Realtor.com survey. Forty-four percent of students blame the real estate market in their college town for these struggles.
Timing is also playing a role in this difficulty finding housing. With uncertainty surrounding whether schools would hold in-person classes, 35% of students delayed confirming fall 2021 housing. Thirty-four percent of students said they hadn't finalized their housing plans for the fall. Of those students, 22% said they waited too long to secure in-person housing, forcing them to change plans.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
