4 ms·

My thought pattern was more along the line of urban areas have plenty of apartments available off campus. Rent fluctuates according to the local market: my own

by bpyne 16y ago

My thought pattern was more along the line of urban areas have plenty of apartments available off campus. Rent fluctuates according to the local market: my own city is a steal for students right now. Some markets are always ridiculously high, e.g. NYC and Boston. In less urban areas where land is available, universities can easily build dormitories. Of course, I haven't seen more than a handful of universities so I'll admit to a small sample size.

philwelch 16y ago
In less urban areas where land is available, developers can easily build apartments--but in urban areas where land is unavailable, my theory was that students just increase demand on the existing housing market with supply less able to react. Here in Pullman, Washington, student housing is cheap and readily available just because there's so much room to expand. There's always a wheat field you can turn into an apartment complex somewhere.
- bpyne 16y ago
  I can see your scenario happening. Around me, the housing market crashed just after some large condo and apartment building projects got underway. The developers dropped prices/rents, which caused the owners of smaller, older apartment buildings to drop rents by as much as 50%. Developing in non-urban areas would be really subject to local zoning. In any event, remove housing from the university cost - e.g. a student living at home - and you're still looking at a low of $10K per year. ($1K/class * 5 classes/semester * 2 semesters) That's not accounting for probably another $300 in miscellaneous fees. Factor in books and it could easily add another $500/semester. You can probably find some scenarios in which the cost is lower, but $10K is really "bargain basement" nowadays in the US.
  - philwelch 16y ago
    Yes, $10K per year is in-state tuition at my school.

4 ms·

My thought pattern was more along the line of urban areas have plenty of apartments available off campus. Rent fluctuates according to the local market: my own

by bpyne 16y ago

philwelch 16y ago
In less urban areas where land is available, developers can easily build apartments--but in urban areas where land is unavailable, my theory was that students just increase demand on the existing housing market with supply less able to react. Here in Pullman, Washington, student housing is cheap and readily available just because there's so much room to expand. There's always a wheat field you can turn into an apartment complex somewhere.
- bpyne 16y ago
  I can see your scenario happening. Around me, the housing market crashed just after some large condo and apartment building projects got underway. The developers dropped prices/rents, which caused the owners of smaller, older apartment buildings to drop rents by as much as 50%. Developing in non-urban areas would be really subject to local zoning. In any event, remove housing from the university cost - e.g. a student living at home - and you're still looking at a low of $10K per year. ($1K/class * 5 classes/semester * 2 semesters) That's not accounting for probably another $300 in miscellaneous fees. Factor in books and it could easily add another $500/semester. You can probably find some scenarios in which the cost is lower, but $10K is really "bargain basement" nowadays in the US.
  - philwelch 16y ago
    Yes, $10K per year is in-state tuition at my school.