Short News Story

As Rent Increases, College Students Suffer

Written by Julius Johnson

In the United States, the lack of housing—that which is habitable, accessible, and affordable—continues to worsen.

The challenges faced by renters pose a major threat to individual and family livelihoods. According to the New York Fed’s Survey of Consumer Expectations: Housing Survey, over the next five years, rents are expected to increase an average of at least 18%. As rents increase, renters are making difficult decisions to secure reliable housing.

Increasing rental costs hurt more than a renter’s bottom line; a report by the Zillow Group found that 66% of renters make at least one sacrifice to afford their rent. For college students and young graduates already struggling financially, these sacrifices can be detrimental. After balancing school, employment, health, and one’s social life, the challenge to find affordable housing persists.

Since graduating from the University of San Francisco this April, Camille Batiste has prioritized finding a job and finding a place to live.

Batiste said, “For me, one of my biggest concerns over the next year is how my job security will affect my housing security. Finding a job that pays well is very difficult, and with the prices of everything going up due to inflation, it only exacerbates the problem.”

Students living on their college campus avoid a certain amount of stress throughout their four years, but those who live off-campus face the same issues and obstacles as other renters. Seattle U Sophomore and creative writing and humanities major, Sophia Modica has lived off campus since August 2021.

“The housing market is extremely competitive among students. Off-campus rent is extremely expensive, especially in the neighborhoods close to campus. The high cost of rent is a financial burden on students. It can also be difficult to find roommates or find housing big enough for multiple roommates. I have had to move farther from campus to be able to accommodate my housing needs” Modica said.

For most renters in this country, access to affordable housing continues to decrease. With fewer options and increasing competition, the question remains—what do renters do now?