Courtesy of Trulia.
In a study published last week, Trulia looked at the housing costs associated with staying on or off campus at colleges around the country, and found that George Washington University drastically underestimates what its students would pay to live off-campus.
The study analyzed the housing costs associated with living off-campus and how closely colleges estimate this cost when advising incoming students. Trulia compared this estimate to the cost of living on university grounds to understand where staying on campus would actually make the most sense for some students.
Trulia chose 20 colleges and universities in large housing markets and assessed rental listings in the zip codes nearest the schools. Because most of the universities didn’t specify the number of bedrooms in the listings they used to come up with their off-campus housing calculations, Trulia looked at everything from studio apartments to four-bedrooms and “assumed that there would be as many students living in a dwelling as there are bedrooms in the dwelling.”
The report found that George Washington University underestimates the rising expenses of living in DC. The cost of living off-campus, according to Trulia is $14,175 for a nine-month period, or about 15 percent more than the university advertises at $12,050 for incoming students.
This disparity doesn’t compare to estimates for universities like Stanford or Columbia where the difference between the university’s calculation for off-campus living and Trulia’s was upwards of 50 percent.
Of course, for the majority of George Washington students the findings in this report don’t apply: only seniors are permitted to live off-campus.
This article originally published at https://dc.urbanturf.com/articles/blog/DC_too_expensive_Study_finds/10325.
Most Popular... This Week • Last 30 Days • Ever
The preferred mortgage product among most home buyers is the fixed-rate mortgage. How... read »
Eights month after a new proposal to redevelop part of the Takoma Metro station was p... read »
The new images provide a better sense of the big residential plans in the works for t... read »
On Tuesday, the Federal Housing Finance Agency announced an increase to mortgage loan... read »
More employers are demanding that employees come back to the office; children on the ... read »
To help home buyers and sellers both novice and seasoned, UrbanTurf is running a seri... read »
As home buyers get the itch to look for a home and start to venture out to open house... read »
Plans for the New York-based eatery appear to be moving forward.... read »
The development for four parcels at The Yards from Brookfield Properties and the Menk... read »
The concept includes 14 lanes for bowling, a 1,200 person concert venue, a craft bar ... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro