Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
As pointed out in my earlier post with links, it's factual and not some wild guess. Unless weirdly enough the average college town apartment has less square feet, apples to apples they're less expensive than peer cities. I have researched it extensively and would welcome any factual information that supports your guess.
Rochester housing is 12% less than Syracuse. Moderator cut: link removed, competitor site
Rochester housing is 12% less than Syracuse. Moderator cut: link removed, competitor site
Not surprising, given Syracuse is in general a more desirable place to live. Syracuse also pushes the definition of college town with 150K population and a student population at 20K.
Not surprising, given Syracuse is in general a more desirable place to live. Syracuse also pushes the definition of college town with 150K population and a student population at 20K.
I wouldn't be surprised if college towns are cheaper than other towns of similar size. College students and staff create a steady demand for apartment housing which means there's an incentive for developers, property owners and local government to facilitate the availability of such housing. I'd almost be certain that there's far more new multi-family developments in college cities than in non-college cities of the same size.
In many smaller cities in this country without the college component you get the sense that apartment living is for the 'hard luck' crowd, and a lot of it might be tied to Section 8. That doesn't generate a ton of developer interest. There's going to be bare minimum provision. People looking who aren't poor and are looking for reasonable amenities will be looking at pretty small rental stock, and that drives prices up.
Low demand can lead to low prices if there's ample stock, which we have plenty of for SFHs in bad areas of Rust Belt cities and towns, but if there's no stock then even a low level of demand can create a high demand situation. If 3 parties are looking for an apartment, but there's only one open then that's a high demand situation. In a college town you might have 900 new students and 200 new college hires looking for apartments in August, but you may also have many, many more open units because knowing you can count on that demand every fall has created a scenario attractive to developers.
I suspect that nearly all "major" cities in the USA have a slum area, and a person should be able to rent something in those areas for a much lower rent than in a middle class area of the same city.
Chapel hill housing is 63% more expensive than concord, nc
At a local level there obviously are also other factors involved. Flagship universities like UNC will also have a massive research component which encourages other investment in the vicinity, leading to a creation of job clusters and thus gentrification enters the picture.
At a local level there obviously are also other factors involved. Flagship universities like UNC will also have a massive research component which encourages other investment in the vicinity, leading to a creation of job clusters and thus gentrification enters the picture.
Yes. Which is why I stated that in general, college towns are more expensive than their instate counterparts. Without looking, my guess is Charlottesville is more expensive than to a pale and Eugene is more than Medford. Just generally speaking. In Austin, campus housign was more than non campus housing
Looks like on Apartments.com, Indianapolis has by far the most available under $1000 but nobody is talking about it. It has over 1200 available! St. Louis next with 641, then Cincinatti with 531. Then Detroit with 529. Cleveland has 492, then Columbus with 422.
After that, the number available are way lower for the rest of the cities mentioned, which likely means they are in areas you probably don't want to be in.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
