Janice Lozano
The rising cost of university accommodation is causing a growing number of students to live at home. In 2015, 46% of students in London lived at home, while in 2016, only 15.6% of all US undergraduate students lived on campus. A 2023 report predicted a sharp rise in the number of students living at home, with 34% considering it, compared to the pre-pandemic level of 20%. A 2024 Forbes Advisor survey found that 42% of students would be living at home, with 33% planning to live on campus and 23% off-campus. The rising cost of living, high rents, and insufficient student accommodation supply are causing more students to live at home, despite the potential impact on their social lives and study time.
| Characteristics | Values |
|---|---|
| Percentage of students choosing to live at home in 2023 | 34% |
| Average rent for a student room in London | over £1,000 per month |
| Percentage of students who lived at home during the pandemic | 20% |
| Percentage of students who chose to live on campus in 2024 | 33% |
| Percentage of students who chose off-campus living in 2024 | 23% |
| Percentage of students who lived off campus with parents in 2015-16 | 27.5% |
| Percentage of students who lived off campus away from parents in 2015-16 | 56.9% |
| Percentage of students who lived on campus in 2015-16 | 15.6% |
| Percentage of students who rented privately or lived at home in Melbourne | 93.3% |
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What You'll Learn
Cost of student accommodation
The cost of student accommodation is a significant factor influencing university students' living choices. With rising rents and living expenses, students are increasingly opting to live at home or seeking alternative arrangements to traditional campus housing.
In recent years, rents for student accommodation have been steadily climbing, reaching unprecedented highs. This trend is exemplified by London, where the average rent for a student room exceeds £1,000 per month, with private sector accommodation averaging £259 per week. Even university-owned accommodation in London averages £212 per week, a substantial sum for students.
The high cost of accommodation in certain areas has led students to consider studying in more affordable locations. For instance, choosing to study in Wales instead of London can result in savings of over £2,000 per year. However, it's worth noting that average wages in London tend to be higher, potentially offsetting some of the higher living costs.
While purpose-built student accommodation offers convenience, it comes at a price. The average weekly rent in the UK for this type of housing is £166, while private sector accommodation with en-suite rooms averages £155, and studios command £228. Longer contracts in the private sector, often lasting 46 to 52 weeks, can result in higher overall costs compared to university-owned properties.
To save on accommodation expenses, students may opt for shared accommodation with friends or seek longer-term rentals that offer rent discounts. However, students should be cautious of joint tenancy agreements, as they can be held responsible for the actions of their roommates. Additionally, advanced rental payments and deposits, which can range from £200 to £300 or higher, are important considerations when budgeting for student accommodation.
With rising costs across the board, budgeting has become a crucial skill for students. Many students have to stretch their funds to cover essential expenses beyond rent, such as food and transportation. Part-time jobs, bursaries, and savings can supplement student finances, ensuring they have enough to last the semester.
In summary, the cost of student accommodation varies widely depending on location, type of housing, and contract length. With rising costs across the board, students are making careful choices about their living arrangements, balancing the traditional university experience with financial considerations.
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Pros and cons of living at home
According to Save the Student's National Student Accommodation Survey, 18% of first-year students in 2023 live at home with their parents or guardians, up 6% from the previous year. This is likely due to the rising costs of student accommodation and household bills.
Pros of living at home
- It is a lot more affordable than living on campus due to the high costs of housing and meal plans.
- Depending on your relationship with your parents, they are likely to allow you to live with them for free or at minimal cost.
- You won't be tempted to attend every social event or feel pressured by friends for late nights out.
- You will have a family support network that you might miss if you lived at university.
- You will likely have access to better food and toiletries than you would buy yourself.
- You may benefit from the occasional home-cooked meal and laundry help.
- You can ease yourself into carving out your independence.
- You can save up and eventually get your own apartment.
- You can reduce financial stress while in school for both yourself and your parents.
Cons of living at home
- You may feel that you are missing out on the authentic university experience.
- It could be isolating, and you may feel that you are not getting the full university experience, such as living in halls of residence, making new friends, and participating in clubs and extracurricular activities.
- It may be challenging to meet people, and you'll have to put in more effort to attend social events.
- You may have a long commute to university, which can be costly and stressful, especially if you rely on public transport.
- It can be awkward to have friends over, and inviting a partner to spend the night might be a complete no-go.
- You may have to deal with family responsibilities, such as cooking and cleaning, which can take away from your study time.
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Student accommodation preferences
The choice of student accommodation is a highly personal one, influenced by a variety of factors such as cost, quality, location, and the desire for independence. In recent years, there has been a notable shift in student accommodation preferences, with a growing number of students opting to live at home during their university years. This shift can be attributed to a combination of financial constraints and evolving priorities among students.
Financial Considerations
The primary factor influencing student accommodation preferences is financial constraints. With rent, tuition, and everyday expenses reaching record highs, many students are opting to live at home to reduce costs. In a Forbes Advisor survey, 42% of college students stated they would be living at home, surpassing other arrangements such as on-campus housing (33%) and off-campus rentals (23%). The high cost of student accommodation, particularly in cities like London where the average rent exceeds £1,000 per month, has made living at home a more economically viable option for students seeking to reduce their debt burden.
Quality and Amenities
Students also consider the quality of accommodation and the availability of certain amenities when making their housing decisions. In a survey, 67% of students cited quality as a factor, while 79% valued in-unit laundry facilities, 68% desired their own bathroom, and 54% sought extended cable or Wi-Fi. The preference for private rooms and high-quality accommodations is consistent across regions, with students seeking value for money.
Location and Independence
The location of their accommodation is another important consideration for students. In the UK, students often opt for private rentals or university accommodations, while US students prefer mid-rise apartments or community cottages. In Australia and Melbourne specifically, a large percentage of students either rent privately or live at home, with only a small fraction opting for commercial or university accommodations. While living at home may limit the traditional university experience of independence and socialisation, some students prioritise remaining close to their support network and saving for the future.
Social and Academic Life
While living at home can provide financial benefits, it may also present challenges for students' social and academic lives. Students living at home may feel isolated from the campus community and miss out on opportunities for extracurricular activities and new friendships. Additionally, they may have to navigate family responsibilities and dynamics that can impact their study time. Universities will need to adapt their policies and provide support to ensure that students living at home have access to the same social and academic resources as their on-campus peers.
In conclusion, student accommodation preferences are shaped by a complex interplay of financial constraints, quality expectations, location preferences, and personal circumstances. With rising costs, living at home has become an increasingly attractive option for students seeking to reduce expenses. However, this choice also comes with potential trade-offs in terms of social and academic experiences. Universities will need to respond to these changing preferences by offering more flexible and affordable accommodation options while ensuring equal access to resources for all students, regardless of their living arrangements.
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Impact on local economies
The rise in the number of students living at home is likely to impact local economies in several ways. Firstly, students living at home tend to spend less money on campus, which could negatively affect local businesses in the short term. University towns and cities may experience a decrease in economic activity as a result. This is particularly true for businesses catering specifically to students, such as cafes, restaurants, and bookstores near university campuses.
However, the increase in students living at home may also have a positive impact on local economies in the long term. Students living at home are more likely to remain in their hometown after graduation, contributing to the local economy through their future earnings and spending. This "brain gain" can lead to a more skilled workforce in the region, potentially attracting businesses and investments, fostering innovation, and creating a cycle of economic growth.
Additionally, students living at home contribute to a different type of economic activity in their local areas. They may spend more on transportation to and from campus, and their food and entertainment expenses may shift from campus-based businesses to those in their residential areas. This can lead to a redistribution of economic activity within a city or region, benefiting some areas while potentially impacting others.
The impact of students living at home on local economies is also influenced by the specific demographics and characteristics of the student population. For example, international students who live at home may contribute to different economic patterns due to their unique needs and spending habits. Similarly, the impact may vary depending on the size of the student population in a given area and the proportion of students choosing to live at home.
Overall, the rise in students living at home is indicative of broader economic trends, including rising costs of living and student debt. While it may present challenges for university towns and cities in the short term, it also offers opportunities for local economies to adapt and benefit from a more skilled and engaged local population in the long term.
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Student support from universities
The rising cost of student accommodation is a significant concern for many students, with rents in some cities, such as London, exceeding £1,000 per month for a student room. This, coupled with increasing tuition fees and the general rise in the cost of living, means that students are increasingly looking for ways to save money. As a result, more university students than ever are choosing to live at home. A recent survey found that 42% of college students in the US opted to live at home, surpassing other living arrangements such as on-campus housing (33%) and off-campus rentals (23%).
The decision to live at home while attending university is a personal one, and students must weigh the potential financial benefits against other factors. For instance, living at home could be isolating, and students may miss out on certain aspects of the traditional university experience, such as living in halls of residence, making new friends, and participating in extracurricular activities. Students living at home may also have additional family responsibilities, such as cooking and cleaning, which can reduce their available study time.
Universities have a role to play in supporting students who choose to live at home. This includes ensuring that these students have access to the same facilities, resources, and opportunities as their on-campus peers. Universities may also need to provide financial assistance, as well as social and academic support, to help students balance their family commitments with their academic pursuits.
To cater to the changing needs and preferences of students, universities will also need to adapt their accommodation policies and offer more flexible options. This could include providing affordable on-campus accommodation with a vibrant and supportive environment, as well as exploring alternatives such as shared houses or apartments. By offering a range of options, universities can give students the best of both worlds, allowing them to save money while still enjoying the benefits of campus life.
Ultimately, the rise in the number of students living at home is indicative of a broader shift in student demographics and preferences. Universities must respond to these changes by providing adequate support and resources to ensure that all students, regardless of their living situation, have a positive and enriching university experience.
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Frequently asked questions
In the US, 27.5% of students lived off-campus with their parents in the 2015-16 academic year. A more recent survey in 2024 found that 42% of college students lived at home.
In 2015, 46% of students in London lived at home. Across the UK, 54% of students live in properties owned by private landlords, 27% in university accommodations, 10% in private halls, and 2% in personal properties.
The primary reason for students to live at home is the rising cost of student accommodation and everyday items. Living at home can help students reduce their debt burden and save money for the future. Other reasons include the ability to live with family, and the quality and facilities of the accommodation.
Students who live at home may have less time to study due to family responsibilities. They may also miss out on the traditional university experience of living in halls of residence, making new friends, and participating in extracurricular activities. Universities will need to adapt their accommodation policies and provide support for students living at home.
