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

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.

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 Area	Location	University/College	Median Rent*	Market Rent	% Above Market	Enrollment
Los Angeles	Westwood	University of California, Los Angeles	$4,343	$2,409	80%	43,000
San Jose, CA	Palo Alto	Stanford University	$5,705	$3,499	63%	16,000
Miami	Coral Gables	University of Miami	$2,818	$1,916	44%	17,000
Boston	Cambridge	Harvard University	$3,287	$2,276	44%	21,000
Oakland, CA	Berkeley	University of California, Berkeley	$4,070	$2,822	44%	37,000
Salt Lake City	East SLC	University of Utah	$2,043	$1,443	41%	32,000
Dallas	Richardson	University of Texas, Dallas	$2,058	$1,476	39%	23,000
Seattle	University District	University of Washington	$2,786	$2,044	36%	45,000
Lansing, MI	East Lansing	Michigan State University	$1,282	$948	35%	51,000
Portland, OR	Downtown	Portland State University	$2,327	$1,724	34%	28,000
New York City	Greenwich Village	New York University	$2,881	$2,139	34%	57,000
Chapel Hill, NC	University City	University of North Carolina	$1,739	$1,329	31%	29,000
Gainesville, FL	West Hills	Santa Fe College	$1,510	$1,173	29%	17,000
Springfield, MA	Upham’s Corner	University of Massachusetts	$2,013	$1,596	26%	29,000
Ithaca, NY	Forest Home	Cornell University	$2,082	$1,675	24%	22,000
Palm Beach, FL	Boca Raton	Florida Atlantic University	$2,477	$2,000	24%	30,000
Columbus, OH	University District	Ohio State University	$1,635	$1,321	24%	65,000
Austin	Central Austin	University of Texas	$2,037	$1,653	23%	51,000
Blacksburg, VA	Blacksburg	Virginia Tech	$1,462	$1,191	22%	31,000
Cleveland, OH	Downtown	Cleveland State University	$1,473	$1,235	19%	17,000
Pittsburgh, PA	Oakland/ Middle Hill	University of Pittsburgh	$1,328	$1,115	19%	35,000
Atlanta	Sweet Auburn	Georgia State University	$1,530	$1,304	17%	33,000
Boulder, CO	University Hill	University of Colorado, Boulder	$2,489	$2,122	17%	30,000
Melbourne, FL	Pinehurst Gardens	Eastern Florida State College	$1,519	$1,310	16%	18,000
Washington, DC	Georgetown	Georgetown University	$2,335	$2,033	15%	18,000
State College, PA	University Park	Pennsylvania State University	$1,473	$1,289	14%	97,000
Orlando, FL	Northeast	University of Central Florida	$1,552	$1,385	12%	60,000
Madison, WI	State-Langdon	University of Wisconsin	$1,794	$1,611	11%	43,000
Greenville, SC	Clemson	Clemson University	$1,288	$1,158	11%	23,000
Ann Arbor, MI	Ann Arbor	University of Michigan	$1,964	$1,793	9%	44,000