When determining a budget it is crucial for students and their families to decide how much they can put towards rent. This will come down to a few factors:
Distance from Campus
Quality of Life
Your financial situation
Distance From Campus
How far you decide to commute from your campus can make or break your budget. Typically we recommend remaining within a 5 mile radius of the campus you attend. This is widely due to the fact that the further you go the more of a commute time you can potentially have, keep in mind that in the mornings there can be traffic, delays, or you can oversleep and need to rush out!
Quality of Life
Everyone deserves the best quality of life their budget can permit! Some main concerns students usually have are amenities (gym, outdoor areas, pool). If you want the best of the best you should be prepared for the prices to vary. For upscale living that include luxury style finishes and proximity to places you enjoy you may need to look towards a higher budget. Luxury style apartment complexes can start anywhere from $1,700+ for 2-3 bedroom units. Large homes with pools in the area can start anywhere from $3,000+. When determining your budget, keep in mind that this is an investment in yourself and your comfort/safety.
Your Financial Situation
If you are working to pay your own rent we understand this decision can be a tough one for you. You’re probably thinking of the numerous other expenses you have which is completely valid. Be sure to take the time to sit down and crunch your numbers carefully, you want to ensure you aren’t putting yourself into a difficult situation by adding a large financial obligation to your plate. Keep in mind that if you have roommates the rent and utilities will be split amongst each other which brings down your shared cost.
If you have a parent who is providing for you make sure you sit down with them and determine what they can afford. Keep in mind that they may have expenses of their own to consider so communication and planning ahead is key!