By the edhat staff
A new study finds that Santa Barbara is ranked the 4th most expensive rental area for students throughout the U.S.
The average monthly rent per bedroom is $1,819 in the Santa Barbara area.
“Rent in the most expensive college towns is nearly ten times higher than in the most affordable. To pay these rents, students would need gross annual incomes of at least $50,000! Family help, financial aid, or on-campus housing are at a premium in these college spots,” states inmyarea.com, who compiled the study.
Three other California cities take the top three rankings: Santa Clara for Santa Clara University, San Jose for San Jose State University and University of Silicon Valley, and Los Altos Hills for Foothill College, respectively.
The least expensive college town in California is Merced near the University of California, Merced with an average monthly rent of $534 per bedroom.
The overall least expensive college town in the United States are Morehead, Kentucky ($257); Bowling Green, Kentucky ($261); and Emporia, Kansas ($265), respectively.
The survey used median rent cost data from the 2021 American Community Survey, which provided the average rent by county and the number of bedrooms in rental units. These costs were chained forward using 2023 rent data from the Zillow Observed Rent Index to account for housing inflation. Some extreme outliers were excluded from analysis.
Included were 4-year bachelor’s degree-granting institutions in the United States as determined by the National Center for Education Statistics. The survey did not include Wyoming or Alaska schools due to a lack of data, and did not include Washington D.C. in the analysis. The analysis also did not include about 100 universities where more than 87% of the student bodies lived on campus in 2022.