The Most Affordable Student Housing is in The South
Digested from RealPage
On national level the most affordable floorplan is the four-bedroom in every region except one.
If a student attends college in the South, it is likely that their paying less for housing than their peers around the country, according to RealPage’s Alma Pena.
The South had the lowest average rent in February at $628 per bed.
“The Midwest was the second most affordable region at an average of $642 per bed in February, followed by the Mountain region at $656,” Pena says. “The Pacific Northwest and Northeast saw the highest rent levels at $853 and $787, respectively.”
The Northeast region, where effective rents there were only 0.7 percent higher than in February 2017, saw the lowest rent growth.
Nationally, the most affordable unit type in February was the four-bedroom unit, which averaged a monthly effective rent of $610.
“That was followed by the six-, three- and five-bedroom layouts, respectively,” Pena writes. “Not surprisingly, the one-bedroom, studio and two-bedroom layouts were at the highest price points of the scale.”
Unlike the other regions, the most affordable floorplan in the South region was the six-bedroom layout, which was only $29 less than the four-bedroom rate.
“One reason that six-bedrooms are generally less expensive is the age of properties having six-bedroom options,” Pena writes. “Most were built during the current development cycle. The majority of this layout is concentrated in Texas State University and University of South Florida.”