Student housing is increasingly expensive. College students and their families are feeling the squeeze of off-campus rents soaring, and many face more debt. Some students are even being pushed out of higher education altogether because of high prices for student housing.
At most schools around the country, incoming first-year students are the only students guaranteed housing. Students past their first year might be able to enter a lottery system to try and get on-campus housing, but the chances of getting it are slim.
Some students don’t prefer to live on-campus for various reasons, either. That makes the off-campus housing market competitive, but there are things to do to find something affordable.
1. Talk to the School
Colleges are increasingly putting in a proactive effort to help students access needed resources to find affordable housing. You might talk to the welfare department of the college to see if they have any helpful information about housing. You might, through this office, be able to find students who want to sublet their space, or you could identify other students who need a roommate.
2. Search Online
You want to make sure you’re doing an extensive search. There are often very obvious student housing options near the school, and these are the ones that get the most attention. For example, the past decade has seen an explosion of companies creating student housing and apartments technically off-campus but very close to campus. These are going to be among the most expensive options. They’re often very flashing in their marketing and advertising, and they almost look like they are on-campus housing.
If you start looking online and do so early, you may find something that’s what you’re looking for that you wouldn’t otherwise come across.
It’s competitive to secure student housing, especially on a budget, so the more time you give yourself and the more research you do, the better.
If you’re scrambling at the last minute, you’ll probably pay more simply because you’ll have fewer options.
3. Consider Other Towns
If you can look at other towns outside of your college town, that can help you save a lot of money. If you’re going to school somewhere with public transit options or you have a car, this can be a realistic possibility.
Even just going a little further away from campus can mean major savings on the cost of the rent. The closer you are to campus, the more convenient but also, the more expensive.
4. Skip the Amenities
Many student housing communities feature full amenities like pools, gyms, or spa features. These are good ways to attract renters, but they can justify high rent prices in the process. You don’t need these amenities, and while they might seem great, it’s probably not worth the price you’ll pay in exchange for them. A simple apartment community or rental with the basics you need will be a better budget-friendly housing option.
5. Rent a Room
Maybe instead of renting an entire apartment, you see if you can rent a room in someone’s home or their guesthouse. If the home has a separate entrance for the room, even better.
You can also get a roommate to share costs or maybe several. You can lower what you pay significantly, but you need to make sure you choose someone you think you’ll be able to tolerate living with.
Some people, such as older people who live alone or older couples are willing to let students live with them in exchange for helping them with household tasks and errands, so this could be another way to save money.
6. Compare On- and Off-Campus Costs
Don’t assume it’s cheaper to live off-campus or vice versa. It all depends, and if on-campus housing is an option for you, do a full comparison and see which route will be cheaper. You don’t have to pay for transportation or utilities when you go with on-campus housing. You won’t have to pay a security deposit; basic furniture is typically provided. When you do the math, you could find living on campus is cheaper, maybe even significantly so, compared to off-campus living.
7. Look for Subleasing Options
Finally, if you need temporary housing, look for people who want to sublease their space. Similar to renting a room, you might find the opportunity to lease only the space you need. Sometimes, if a person needs to hurry up and fill a space, they’ll lower the rent and pay the difference.
