Rentals

Trulia: Universities underestimate student rent

In most cases, off-campus living still cheaper than university housing

Takeaways: Parents and students should not rely on universities to provide accurate housing cost figures. More students will have to share a room in order to live affordably. Developers/owners of off-campus student housing are likely to offer cheaper options than universities. When estimating off-campus housing costs for an academic year -- nine months -- parents and students should do their own homework and not rely on estimates provided by universities. According to recent analysis from Trulia, schools often underestimate the cost of off-campus housing by thousands of dollars. Trulia recently looked up the estimated housing costs provided by 20 large universities across the country and then calculated the median rent for apartments in the nearest ZIP codes based on its rental listings. The listings site found that schools are not updating their estimated housing costs frequently enough, especially for neighborhoods with fast-rising housing costs. As a result, ...