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California Business Journal
Rents near UCLA exceed $4300

Rents near UCLA exceed $4300

RENTS NEAR UCLA EXCEED $4,300, 80% ABOVE MARKET RATE

by California Business Journal Editorial Staff
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Rents near UCLA exceed $4300
Rents near UCLA exceed $4300

UCLA and Stanford rank 1-2 in most expensive off-campus rents.

From the California Business Journal Newswire

HomeUnion, an online residential real estate investment management firm in Irvine, Calif, has released a list of the college towns with the most expensive off-campus rents.

According to new data, rents within a two-mile radius of UCLA and Stanford are the highest in the nation.

To create the list, HomeUnion analyzed the median rent within a two-mile radius of a university’s campus and compared it to the metro area’s market-rate rent. Colleges with enrollment of 15,000 students or higher were included in the study.

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Says Steve Hovland, director of research for HomeUnion: “Tuition for both public and private universities continues to increase nationwide, prompting students and their families to consider the cost of living in off-campus housing like single-family rentals (SFRs). To minimize living expenses, students can look at more distant accommodations or consider having roommates in a rental home. This study illustrates where living near campus is disproportionately more expensive than the market as a whole, and off-campus housing may eat into their college savings.”

Here’s a list of the college towns with the most expensive off-campus rents:

Metro AreaLocationUniversity/CollegeMedian Rent*Market Rent% Above MarketEnrollment
Los AngelesWestwoodUniversity of California, Los Angeles$4,343$2,40980%43,000
San Jose, CA Palo AltoStanford University$5,705$3,49963%16,000
Miami Coral GablesUniversity of Miami$2,818$1,91644%17,000
Boston CambridgeHarvard University$3,287$2,27644%21,000
Oakland, CA BerkeleyUniversity of California, Berkeley$4,070$2,82244%37,000
Salt Lake City East SLCUniversity of Utah$2,043$1,44341%32,000
DallasRichardsonUniversity of Texas, Dallas$2,058$1,47639%23,000
Seattle University DistrictUniversity of Washington$2,786$2,04436%45,000
Lansing, MI East LansingMichigan State University$1,282$94835%51,000
Portland, OR DowntownPortland State University$2,327$1,72434%28,000
New York CityGreenwich VillageNew York University$2,881$2,13934%57,000
Chapel Hill, NCUniversity CityUniversity of North Carolina$1,739$1,32931%29,000
Gainesville, FLWest HillsSanta Fe College$1,510$1,17329%17,000
Springfield, MAUpham’s CornerUniversity of Massachusetts$2,013$1,59626%29,000
Ithaca, NYForest HomeCornell University$2,082$1,67524%22,000
Palm Beach, FL Boca RatonFlorida Atlantic University$2,477$2,00024%30,000
Columbus, OHUniversity DistrictOhio State University$1,635$1,32124%65,000
Austin Central AustinUniversity of Texas$2,037$1,65323%51,000
Blacksburg, VABlacksburgVirginia Tech$1,462$1,19122%31,000
Cleveland, OH DowntownCleveland State University$1,473$1,23519%17,000
Pittsburgh, PAOakland/ Middle HillUniversity of Pittsburgh$1,328$1,11519%35,000
Atlanta Sweet AuburnGeorgia State University$1,530$1,30417%33,000
Boulder, COUniversity HillUniversity of Colorado, Boulder$2,489$2,12217%30,000
Melbourne, FL Pinehurst GardensEastern Florida State College$1,519$1,31016%18,000
Washington, DC GeorgetownGeorgetown University$2,335$2,03315%18,000
State College, PAUniversity ParkPennsylvania State University$1,473$1,28914%97,000
Orlando, FL NortheastUniversity of Central Florida$1,552$1,38512%60,000
Madison, WIState-Langdon

 

University of Wisconsin$1,794$1,61111%43,000
Greenville, SCClemsonClemson University$1,288$1,15811%23,000
Ann Arbor, MIAnn ArborUniversity of Michigan$1,964$1,7939%44,000

*Within 2 miles of campus

 

 

Tags: 409AustinBeachCACaliforniacollegeDallasEstateHarvardHomeUnioninvestmentIrvineLos Angelesmost expensive off-campus rentsNew YorkOaklandreal estaterentresidentialsavingsSCStanfordstudyTexasUCLAVA
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