Renting off-campus may be way to go to find a better deal
February 6, 2007
Dealing with cost may be the hardest part in students’ apartment searches.
University students seeking to rent housing actually face comparatively low housing costs, according to a 2005 U.S. Census Bureau tabulation of median monthly housing costs for renter-occupied housing units. The Champaign County median rent was $671 compared to $734 for the state of Illinois and $728 for the United States.
Supply and demand has an impact in raising rents in Urbana-Champaign above what they would otherwise be, said Chris Hartman, manager at JSM Apartments. The University creates a great deal of demand, which drives up prices, he said.
The number of unrelated people living in an apartment play a role as well, said Esther Patt, Coordinator of the Tenant Union Program.
In housing involving unrelated adults, the rates are higher than they otherwise would be, she said.
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Off-campus, a house with three people would be seen as a family with one or two incomes instead of three separate incomes. On campus, landlords know they are marketing to unrelated students and can raise rates.
Proximity to campus is important to students, which leads to higher rates for good locations.
“We find that location seems to be the biggest factor,” Hartman said.
“Campus property is just a more expensive rent rate than off-campus,” said Greg Goebel of Roland Realty.
There are multiple steps a student may take when seeking lower rates.
For one thing, they can look specifically for low-rent places. Patt said that the Tenant Union can help students find low-rent places that are still good quality.
Patt also advises that students shop around so that they know whether a price is a good deal.
Flexibility regarding where students live can play a large part in finding lower rent costs, even if they’re only choosing from on-campus properties.
“Understanding that (the interesction of) First and Green (streets) is not that far will help you a lot to save money on rent,” Patt said.
Patt said that if students especially want to save money, off-campus is the best way to go. Hartman seconds this, estimating that for two properties that are exactly the same, the one off-campus would cost 10 percent less than the one on campus.
Still, proximity to campus is worth the money, said Whitney Rossmiller, a sophomore in LAS looking for her first apartment.
“I prefer to live closer to campus. I’m willing to spend a little bit more,” she added.
Whatever students’ financial preferences, Patt said students should not make too many concessions simply to save money.
“You don’t have to rent from a crummy landlord to get low rent,” Patt said.