This post is in collaboration with Zillow. Miriam Bornstein, the Senior Marketing Content Coordinator for Zillow, writes about the most expensive college towns to live in.
With back to school in full force, students are learning to navigate their new campuses, study for exams and learn which cafeteria serves the best late night snacks. Freshman may enjoy the routine of their new lifestyles, but most begin considering off-campus living as they approach their second year. Living away from home, whether on campus or not, can get costly based on location.
In fact, many high school seniors are thinking about selecting a college soon, which means they need to calculate some serious math around cost of living. It’s important to take off-campus housing expenses into consideration when deciding where to attend college.
Zillow recently released a new study revealing that 80 percent of the top 35 national universities (named on the U.S News & World Report’s Best Colleges of 2017) are located in pricey rental markets. To put this in perspective, students who live off campus near top colleges can expect to pay $1,223 to $6,139 per month in rent alone.
The most expensive college rental market on Zillow’s list is Stanford University in Palo Alto, CA where students pay a median of $6,139 for off-campus housing – nearly five times more than the national median rent. On the opposite side of the spectrum, The University of Notre Dame in South Bend, IN, has the lowest off-campus housing costs, with a median rent of $723 a month. If your dream is to become one of the fighting Irish, your wallet will be better lined than as a cardinal.
Even if housing isn’t a cost at the forefront of your mind, it’s vital to factor in cumulative college expenses from the get-go to budget accordingly and hopefully save you time and money down the road.
If you’re curious to see how rent stacks up in other U.S. metros, find local cost breakdowns near the college of your choice.
Most Expensive Off-Campus Housing
- Stanford University, Stanford/Palo Alto, CA
- Princeton University, Princeton, NJ
- University of California, Berkeley, Berkeley, CA
- California Institute of Technology, Pasadena, CA
- University of Southern California & University of California – Los Angeles, Los Angeles, CA
Least Expensive Off-Campus Housing
- University of Notre Dame, Notre Dame/South Bend, IN
- Washington University, St. Louis, St. Louis, MO
- University of Rochester, Rochester, NY
- Wake Forest University, Winston-Salem, NC
- Carnegie Mellon University, Pittsburgh, PA
Okay, wow. Some of this housing is super expensive! Could you imagine paying $6,000 per month for RENT? I sure can’t! Super thankful for my on-campus apartment right about now!
Do any of you live in these metropolitans? Would you like to see more guest posts like these? Let me know in the comments!
Find me on social media!