A variety of student housing options in the United States

Changes in the student housing market in the USA

In the United States, in cities where colleges are located, there have always been many students who preferred to rent housing close to their educational institutions rather than live in student dormitories. This trend continues to this day. However, the situation in the real estate market is changing. Recently, companies that previously specialized in managing student housing have started to explore new market segments.

The evolution of housing for students

First of all, companies like American Campus Communities and Education Realty Trust offered individual rooms in apartment buildings near educational institutions with all the amenities, including pools and tanning salons. However, now some companies, primarily Landmark Properties, are redirecting their focus to creating cottage-style residential complexes. These complexes include entertainment clubs, gyms, and multi-room houses with shared kitchens, which is new and popular both with the company and with students.

Statistics and forecasts

• Cottage communities:Currently, there are only 35 such communities in the USA, designed for 19,000 students. Another 18 complexes are currently under construction, intended for 12,000 people.
• Sector growth:Experts claim that the number of cottage communities will increase in the future.

Trends and preferences

These houses are being built to meet the needs of the growing number of students. It is expected that by the 2018-2019 academic year, universities in the United States will graduate about 3 million students per year, which is significantly more than in the 1993-1994 academic years. So far, housing in cottage communities is more expensive than in student dormitories, making it more profitable for companies that manage student housing.

Market development

The market for cottage communities continues to develop.

Student accommodation in the university campus or off-campus is an important stage in the lives of young people who are starting their journey in education in a different city or country. At the University of Mississippi, students are offered single rooms starting at $622 per month, with meals paid separately. Over the 9-month academic year, a student will need to allocate about $5,600 for housing. Renting a three-bedroom apartment with three bathrooms off-campus will cost at least $535 per month.

Rental conditions off-campus

When signing a lease for off-campus university housing, students often encounter 12-month terms, which is also important to consider when planning finances. Modern Developers are keen to attract students with improved facilities. For example, in an apartment complex near the University of Missouri, the new homes have ceiling heights of almost 3 meters, kitchens are equipped with all the necessary equipment, the rooms have parquet flooring and bathrooms have marble countertops.

Additional amenities

Various residential complexes also offer a variety of additional amenities, including wardrobes, saunas, golf simulators, basketball courts, and areas for yoga practice.