We have a new blog!

Visit us at rentometer.com/blog to read our latest articles.

September 21, 2017

After getting admission in a University, one of the most important tasks that a student takes up his sleeve is renting a suitable accommodation. Students have myriad options to choose from while settling for a particular kind of lodging arrangement. Depending on facets such as location, affordability, and lifestyle, there are several options available for student accommodation. They can reside in hostels, shared apartments or on-campus residential lodges and even opt to live in a homestay. The choice that they make is heavily dependent on personal needs and budget constraints.

Homestays make an ideal stay for many international students. If one aims at closely observing the culture of a country and imbibing it, living in a homestay could prove to be a great experience. They are easier on the pocket as compared to private apartments and on-campus residential houses. Also, in most homestays, meals are included in the rent. This makes the lives of students relatively easy as not many of them can afford to spare the time to cook.

For investors, localities surrounding renowned colleges serve as an ideal investment arena. Rent prices in areas around universities are generally stable. There are various other perks associated with investing in a property near a college. There is never a scarcity of students looking for rented accommodation. This gives you a new pool of tenants on a regular basis. If at all you decide to live in the home yourself, you could still offer a homestay for students to live in. It is recommended that you invest in property in affordable college towns. This includes towns having schools that have affordable tuition fees and offer high-quality education.

Let’s take a lot at the top Universities, near which you must invest in properties:

1. Georgia Institute of Technology (view rent comp report) (*Updated rent report run on 8/16/18)

Summary 1 BR 2 BR 3 BR
Average Rent $1,642 $2,694 $2,852
Median Rent $1,650 $2,400 $2,844

Atlanta, it has students from various corners of the world studying here, with big dreams in their eyes. New students keep flocking the University each year, so the landlord does not need to worry about finding new tenants. The area surrounding the University has lots to offer in terms of recreation and entertainment, courtesy student crowd. If you are looking to invest in a property to rent out to students, Atlanta could be your paradise.

2. University of North Carolina (view rent comp report) (*Updated rent report run on 8/16/18)

Summary 1 BR 2 BR 3 BR
Average Rent $862 $1,311 $1,568
Median Rent $850 $1,225 $1,600

The University of North Carolina is another immensely popular University in America. The University offers on-campus lodging in the below-mentioned locations:

  1. Mason Farm Graduate Housing
  2. Baity Hill Graduate and Family Housing

However, there are not enough on-campus arrangements to provide accommodation to all students studying in the University. Therefore, many students choose to live off-campus in Durham, Carrboro or Chapel Hill. UNC has a housing guide that provides crucial information on local rental listings around the campus. Owning a property near the University of North Carolina and having it featured on the housing guide is all you need to do to maintain a steady flow of tenants.

3. Johns Hopkins University (view rent comp report) (*Updated rent report run on 8/16/18)

Summary 1 BR 2 BR 3 BR
Average Rent $947 $1,392 $1,792
Median Rent $950 $1,400 $1,904

This University, situated in Baltimore, has a World Report Ranking of 10. John Hopkins University has no provisions for on-campus accommodation for its graduate students. They are expected to find their own rented accommodations prior to or upon joining the University. The area that immediately surrounds the Homewood campus is known as Charles Village. Rental accommodation in this area sells like hot cakes among students. Other neighborhoods that are likely to be inhabited by students of JHU are Waverly, Guilford, and Hampden. What makes accommodation in these areas even better for students is that JHU runs a free shuttle service to and from some of these neighborhoods.

4. Washington University, St. Louis (view rent comp report) (*Updated rent report run on 8/16/18)

Summary 1 BR 2 BR 3 BR
Average Rent $905 $1,224 $1,496
Median Rent $895 $1,170 $1,500

Most of the graduate students studying in Washington University stay off-campus. The preferred mode of accommodation among students is private apartments. The University advises students to check with their landlords whether or not they would need to set up and pay for their own utilities. This is to avoid issues between students and their landlords. Students prefer rented houses with all necessary amenities. The University has its own referral services. This is a list of privately-owned apartments, readily available online. The Senates Off-Campus Living Committee also maintains a list of housing options compiled by graduate students. Thus, once you house a University student, be rest assured that you will never be without a tenant.

5. Ohio State University (view rent comp report) (*Updated rent report run on 8/16/18)

Summary 1 BR 2 BR 3 BR
Average Rent $702 $1.030 $1,393
Median Rent $675 $995 $1,355

Columbus houses many students each year. Ohio State University has a portal where students can search for an off-campus residence of their choice. They can choose from a variety of options based on their requirements. A large number of students studying at OSU opt for rental accommodation outside the campus. They have the option of looking up the portal to find accommodations that suit their budget and style of living. Landlords in areas near the University do not have much to complain about, with a constant number of students inhabiting their houses, year after year.

Author Bio: Bella Williams: As an academic researcher & private tutor, Bella guides the new age professionals and students with their career. A graduate from Monash University, Bella organizes free coaching workshops and promotes free sharing of knowledge. You can also get in touch with her on LinkedIn.

If you liked this article, subscribe to Rentometer's email newsletter to stay up-to-date on the latest trends in rental housing.