Housing Market 2023: Here’s How Much Students Pay to Live in these Southern College Towns
Living on campus may be a rite of passage for college students, but dorm life isn’t for everyone. Although most universities require freshmen to live on campus, a number of students opt for off-campus housing, where they may live on their own or with roommates. This is especially true in southern states, where you’ll find some of the highest rates of off-campus housing compared to other regions. Here’s what they pay to live off campus in southern college towns and how it compares to the national median rent of $1,480.
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1. Athens, GA
Population: 128,561
Average rent for a two-bedroom: $1,347
Located about an hour and a half drive from Atlanta, Athens is home to the state’s top public university, the University of Georgia. This charming college town also hosts Athens Technical College and some private schools. The median rent in the area is $1713, with a studio going for about $930 per month. Although it’s lower than the national rent rate, Athens is one of the pricier locales on this list, with the cost of living about 3% higher than the rest of the country.
2. Auburn, AL
Population: 80,006
Average rent for a two-bedroom: $1,039
Surrounded by the lush forests of eastern Alabama, Auburn is where you’ll find its namesake, Auburn University. The median rent in Auburn is higher than the national average: $1500, but studios and one-bedrooms are a steal at $475 and $950, respectively. Overall, Auburn is affordable, with the cost of living nearly 10% lower than the national average.
3. Austin, TX
Population: 974,447
Average rent for a two-bedroom: $1,869
It’s no surprise that Texas’ state capital, Austin, is the biggest college town on this list. Several notable public and private schools attract more than 422,000 students to the city each school year. In addition to the University of Texas at Austin, you’ll find St. Edward’s University, Huston-Tillotson University, Concordia University Texas and Texas Health and Science University. Median rent here is $2,195, and you can expect to pay about $1,291 for a studio and $1,425 for a one-bedroom if you rent a place off campus.
4. Durham, NC
Population: 332,680
Average rent for a two-bedroom: $1,653
Part of the famed Research Triangle, along with Raleigh and Chapel Hill, Durham is home to Duke University, including Durham Technical Community College and North Carolina Central University. The median rent in Durham is $1,800, and a one-bedroom is a better deal at around $1,288 per month. The going rate for a studio is $1,585. The cost of living here is about 7% higher than the rest of the country.
5. Charlottesville, VA
Population: 45,373
Average rent for a two-bedroom: $1,763
Nestled in the rolling hills of Virginia, Charlottesville was home to two presidents, one of whom founded the University of Virginia there. Piedmont, Virginia Community College is also in Charlottesville. At $2,095, the median rent here is higher than the national average, but the cost of living is typically around 9% lower. You can expect to pay around $1,388 for a studio and $1,459 for a one-bedroom.
6. Columbia, SC
Population: 137,996
Average rent for a two-bedroom: $1,327
Located in the heart of South Carolina, Columbia is the state’s capital and the site of its largest school, the University of South Carolina. Benedict College, Columbia College and Columbia International University also call the city home. The cost of living in the city is about 3.6% lower than in other parts of the country. Median rent is $1,450, and you’ll pay about $800 for a studio and $1,011 for a one-bedroom.
7. Gainesville, FL
Population: 145,214
Average rent for a two-bedroom: $1,429
Located in north central Florida, Gainesville is surrounded by a number of preserves and springs — an outdoor lover’s dream. It’s also where you’ll find the Sunshine State’s flagship school, the University of Florida, and Santa Fe College. Gainesville is an affordable area overall, with the cost of living about 2% lower than the national average. Median rent here is $1,600, higher than the national median, and a studio costs about $1,077. You’ll pay about $1,100 for a one-bedroom.
8. Lexington, KY
Population: 320,576
Average rent for a two-bedroom: $1,519
It may be best known for its horse farms. Still, Lexington is also a fun college town, thanks to the presence of the Unversity of Kentucky, Bluegrass Community and Technical College, and Transylvania University. Median rent is close to the national figures, coming in at $1,400, and you will likely pay about $750 for a studio and $857 for a one-bedroom. The area is generally affordable, with the cost of living about 3.4% lower than in other regions.
9. Knoxville, TN
Population: 196,823
Average rent for a two-bedroom: $1574
The quintessential college town is located within sight of the Great Smoky Mountains, Knoxville, Tennessee. Here, you will find one of the oldest schools in the country, the University of Tennessee and Pellissippe State Community College. The median rent in the area is more than the national rate of $1,836, but the cost of living is more than 8% lower than in other parts of the country, making it more affordable. Studios cost about $995, and one-bedrooms cost about $1,250.
10. New Orleans, LA
Population: 364,659
Average rent for a two-bedroom: $1,725
New Orleans, Louisiana, is more than a popular tourist destination; it’s also a bustling college town. More than 40,000 students attend one of the schools in the area, including Tulane University, The University of New Orleans, Loyola University, Xavier University of Louisiana, Dillard University, Southern University at New Orleans and the University of Holy Cross. The median rent is $1,700, and a studio costs about $1,150. A one-bedroom costs about $1,375 per month. Rent may be high, but the cost of living in New Orleans is slightly lower than the national average.
11. Oxford, MS
Population: 26,437
Average rent for a two-bedroom: $1,010
The smallest college town on this list, Oxford, Mississippi, is best known as the home of Ole Miss. Located in the rolling hills of northern Mississippi, Oxford is a beautiful and affordable city, with the cost of living 12% lower than the rest of the country. Median rent is $2,000, significantly higher than the national rate. Here, you’ll find a studio for about $950 and a one-bedroom for about $1,527.
Final Take
For many students, living expenses make up the second largest piece of the cost of college — after tuition. If you’re considering off-campus housing, be sure to include the monthly rent in your budget. In some college towns, living with a roommate can help lower expenses. Splitting a two-bedroom with a roommate costs about $600 each, and sharing a three-bedroom with two roommates costs about $540 each.
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