Student housing costs are rising. Here’s how to reduce your bill

Yes, studying is expensive. The real surprise: Housing can be more expensive than tuition. At public four-year colleges, the average cost of housing and food in 2023-2024 was $12,770 — higher than the $11,260 for tuition and fees, according to a 2023 College Board report. Students at community colleges and private schools also faced similar high housing costs.

High housing prices can impact a student’s ability to thrive in college or complete their studies. According to a 2019 report from Temple University’s Hope Center in Philadelphia, about 56% of students surveyed said they had experienced housing insecurity in the past year — including the inability to pay rent.

“We’re seeing rising prices and rising costs whether you’re on or off campus, and so it’s becoming a bigger piece of the college education financing puzzle for many families,” said Olan Garrett, associate vice president of student affairs at Tempel University.

There are strategies to reduce your college housing costs, from finding roommates to carefully comparing on- and off-campus options. Advisors at your university can guide you to affordable options, even in emergency situations.

Before you take out more student loans than necessary pay for college housing, consider these expert-approved tips.

Start early and do your research

Start looking for housing as early as possible; for many students looking off campus, that will be mid to late fall for the next academic year, Garrett said. If you want to live on campus, you may have more time: that selection process typically begins in the spring, he says.

“The later you wait, the fewer options there will be,” says Garrett.

One way to get ahead of the curve: Contact leasing agents in your community. “For example, if you are going to an open house or apartment tour, find the leasing agent and contact them about what other available units may be available,” says Matt Aini, president of the Student HOMES Coalition, a Student-run organization that promotes affordable student housing policies. This can help you find apartments that are not yet listed online.

Do some research on your potential landlord or rental management company before signing a binding lease. Reach out to friends and colleagues and look up reviews online.

“How did people experience the landlord’s working method? Is it a landlord who responds very well to requests?” says Garrett.

Compare on-campus and off-campus options

Off-campus living can come with more independence and cheaper rent, but when it comes to comparing costs with on-campus options, it’s not always “apples to apples,” Garrett says.

If you live on campus, utilities such as heating, water, electricity, garbage and WiFi are usually included in your housing costs. The dormitory can also be delivered fully furnished. Off-campus rentals usually don’t include these services, so they probably will additional study costs. Off-campus apartments may also require a security deposit and first month’s rent in advance.

Most college websites offer online cost of living calculators that allow you to compare the average cost of living on or off campus.

If your school is close to home and you have the option to continue living there, consider commuting to save money on housing.

Aini, a senior at the University of California, Berkeley, lives nearby with his parents and commutes to campus.

“I made a very conscious choice,” says Aini. “And you see the costs, among other things. And I think it just makes things easier.”

Find roommates and manage expectations

Having a roommate is part of the typical college experience for many freshmen at American universities. Even after the first year, living with roommates allows you to split rent and utility bills.

“I really believe there is value in roommates or a shared living environment,” says Brenda Ice, senior associate dean and senior director of residential life at Brown University in Providence, RI. “I’m not saying this: ‘try to involve as many people as possible’ ‘as you can in a particular house or apartment’, but I do believe there is both a social benefit to living with more than one person in a shared space , if it also helps to reduce costs.’

Be willing to compromise on amenities to get a place that fits your budget. You may not be able to live in a brand new or recently renovated residence without roommates.

“Understand that the first goal of this is to be able to live in a comfortable place where you can sleep, study, and do the things you need to do,” says Garrett.

Contact university resources

For help navigating housing options, please contact your university’s housing and residence office. School administrators can guide you through on-campus options, and some can assist with off-campus housing.

“Speak to a housing officer,” says Garret. “In most cases, one size does not fit all.”

Many colleges offer off-campus housing databases with vetted landlords and properties. Some even offer free workshops. For example, Brown works with a campus partner to teach students financial literacy, understanding leases, connecting with neighbors and more, Ice says.

Even if your school doesn’t offer such robust housing resources, it likely has a housing officer. At North Seattle College, a community college, housing specialist Shannon Thomas helps students through housing emergencies.

“I make connections with agencies and programs throughout the area, whether they are service organizations, city or state programs, private landlords or other schools and agencies,” Thomas explains.

Submit the FAFSA to minimize financing costs

If you need to take out student loans for housing, prioritize federal student loans, which offer more generous protections and flexible repayment options. You must have the FAFSA to qualify for federal student loans and need-based Pell Grants. If you have the maximum amount of federal loansto consider private student loans as a last resort to fill any funding gaps.

Use one student loan calculator to see how much your debt could cost you over time.

Read your rental contract and communicate with landlords

If you plan to live off campus, understand that leases are binding legal documents with major financial implications. Violating your lease terms can result in additional fees, eviction, and a blemish on your record that could make it difficult to rent an apartment in the future.

Some schools, like Brown, employ attorneys to help students with legal advice, including reviewing lease terms and navigating disputes with landlords. You can also take your rental documents to a free legal clinic at your school or community, says Aini.

If you already live off campus and anticipate a problem paying rent, proactively contact your landlord, Garrett says.

“I send my wife here, who is a property manager, and she would say, ‘communicate with your landlord early… if you know you’re going to be a problem, let him know you’re going to be a problem.’ Most landlords are willing to work with you in advance,” he explains.

Apply for urgent housing subsidies

According to the Hope Center’s 2019 survey, 14% of students at four-year colleges said they had experienced homelessness in the past 12 months. At community colleges, that figure was 18%. The vast majority of these students temporarily stayed with a family member or friend, the study found.

Grants can help you make ends meet in emergency situations where you are at risk of losing your home. States, cities and agencies typically offer these subsidies. For more information about your options, please contact your facility’s housing officer.

For example, colleges in Washington state can distribute the Washington Student Achievement Council (WSAC) emergency grant.

To apply for the WSAC grant, students typically first meet with a housing coordinator at their school, says Thomas, who oversees the WSAC grant program at North Seattle College. The amount of money students can receive from this grant is flexible, although Thomas says it could be up to roughly $3,000.

“We will assess their housing needs and their basic needs and then prioritize and set a course to find them,” Thomas said. “A student may come along and say, ‘We’re moving to an apartment that’s going to cost us ‘X’ amount of money. I only have so much. I don’t get any help from my family, or I can’t pay for various reasons. And can you help me with this?’ And so what happens is we take a request for financial assistance and we investigate it as a team.”

In an urgent situation, Thomas says he can refer students to a shelter or arrange a motel stay.

“It’s pretty clear that if you meet the basic needs of your students, you’re going to improve retention rates… and also the quality of the community on your campus,” Thomas says.

Eliza Haverstock writes for NerdWallet. Email: [email protected]. Twitter: @elizahaverstock.

The article Student housing costs are rising. Here’s how to reduce your bill originally appeared on NerdWallet.