HomeUnion Names the Most Expensive College Towns

Rents near UCLA exceed $4,300 a month, 80 percent above market-rate

CollegeTowns_thumbnailIRVINE, Calif., Aug. 3, 2016  – HomeUnion, an online residential real estate investment management firm, has released a list of the college towns with the most expensive off-campus rents. According to new data released by HomeUnion, rents within a two-mile radius of the University of California, Los Angeles (UCLA), Stanford University and University of Miami are the highest in the nation. To create the list, HomeUnion analyzed the median rent within a two-mile radius of a university’s campus and compared it to the metro area’s market-rate rent. Colleges with enrollment of 15,000 students or higher were included in the study.

“As college students return to school this month, we wanted to let them and their families know where off-campus rents would be the most expensive,” explains Steve Hovland, director of research for HomeUnion. “Tuition for both public and private universities continues to increase nationwide, prompting students and their families to consider the cost of living in off-campus housing like single-family rentals (SFRs). To minimize living expenses, students can look at more distant accommodations or consider having roommates in a rental home. This study illustrates where living near campus is disproportionately more expensive than the market as a whole, and off-campus housing may eat into their college savings.”

Here’s a list of the college towns with the most expensive off-campus rents:

Metro Area Location University/College Median Rent* Market Rent % Above Market Enrollment
Los Angeles Westwood University of California, Los Angeles $4,343 $2,409 80% 43,000
San Jose, CA Palo Alto Stanford University $5,705 $3,499 63% 16,000
Miami Coral Gables University of Miami $2,818 $1,916 44% 17,000
Boston Cambridge Harvard University $3,287 $2,276 44% 21,000
Oakland, CA Berkeley University of California, Berkeley $4,070 $2,822 44% 37,000
Salt Lake City East SLC University of Utah $2,043 $1,443 41% 32,000
Dallas Richardson University of Texas, Dallas $2,058 $1,476 39% 23,000
Seattle University District University of Washington $2,786 $2,044 36% 45,000
Lansing, MI East Lansing Michigan State University $1,282 $948 35% 51,000
Portland, OR Downtown Portland State University $2,327 $1,724 34% 28,000
New York City Greenwich Village New York University $2,881 $2,139 34% 57,000
Chapel Hill, NC University City University of North Carolina $1,739 $1,329 31% 29,000
Gainesville, FL West Hills Santa Fe College $1,510 $1,173 29% 17,000
Springfield, MA Upham’s Corner University of Massachusetts $2,013 $1,596 26% 29,000
Ithaca, NY Forest Home Cornell University $2,082 $1,675 24% 22,000
Palm Beach, FL Boca Raton Florida Atlantic University $2,477 $2,000 24% 30,000
Columbus, OH University District Ohio State University $1,635 $1,321 24% 65,000
Austin Central Austin University of Texas $2,037 $1,653 23% 51,000
Blacksburg, VA Blacksburg Virginia Tech $1,462 $1,191 22% 31,000
Cleveland, OH Downtown Cleveland State University $1,473 $1,235 19% 17,000
Pittsburgh, PA Oakland/Middle Hill University of Pittsburgh $1,328 $1,115 19% 35,000
Atlanta Sweet Auburn Georgia State University $1,530 $1,304 17% 33,000
Boulder, CO University Hill University of Colorado, Boulder $2,489 $2,122 17% 30,000
Melbourne, FL Pinehurst Gardens Eastern Florida State College $1,519 $1,310 16% 18,000
Washington, DC Georgetown Georgetown University $2,335 $2,033 15% 18,000
State College, PA University Park Pennsylvania State University $1,473 $1,289 14% 97,000
Orlando, FL Northeast University of Central Florida $1,552 $1,385 12% 60,000
Madison, WI State-Langdon University of Wisconsin $1,794 $1,611 11% 43,000
Greenville, SC Clemson Clemson University $1,288 $1,158 11% 23,000
Ann Arbor, MI Ann Arbor University of Michigan $1,964 $1,793 9% 44,000

*Within 2 miles of campus



About HomeUnion

HomeUnion is an online real estate investment management firm. Based in Irvine, Calif., it provides all the services needed for individuals to invest remotely in SFR properties. The company uses a combination of research and data-driven proprietary analytics to incorporate over 120 million homes and 200,000 neighborhoods into their database, and then delivers its solutions to an on-the-ground infrastructure that currently serves 21 locations. HomeUnion’s role spans the lifecycle of the investment transaction: from identifying sound investments, handling all aspects of acquisition, maximizing income, protecting asset value, and selling it when the time comes.


Media Contact:

Stacey Corso, Communications Manager

HomeUnion, Inc.



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