2008 Woodie Awards
Boulder renters pay the big bucks
Student rent soars above other college markets
Cassie Hewlings
Issue date: 8/23/07 Section: News
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This story initially ran in February.
CU students searching for fall pre-lease prospects face some of the most expensive housing costs of any college town in the country, according to a real estate research group.
The annual Coldwell Banker College Home Price Comparison Index, which measures the average cost of a 2,000 square foot home, named Boulder as having the eighth most expensive housing costs of 119 Division 1A colleges. Students hoping to find affordable housing will also fight zoning restrictions and a growing landlord-friendly market.
"In general, Boulder is an expensive place to live, and in comparison to other college towns, is very expensive. I mean, just in comparison to Fort Collins, it is almost night and day," said Hugh Boles with the off-campus student services office.
According to the 2005 census, the more populous Fort Collins has 23,054 renter-occupied properties in contrast to Boulder's 19,747.
Of Fort Collins' rental housing, 31 percent falls within the $500 to $749 monthly rent range, with the median rent being $784. Thirty percent of Boulder's rental properties fall within the $1,000 to $1,499 range, with the median rent at $979.
Palo Alto, Calif., home of Stanford University, has a median rent of $1,349 and topped the HPCI in average home selling price at over $1.5 million.
The list of the least expensive college towns ranked Lubbock, Tex., home of Texas Tech University, number one. Lubbock has a median rent of $649.
Boulder held the eighth spot on the HPCI for 2006 because the average cost of a home is $526,000.
"It's very frustrating to try and find housing here. I'm from Colorado Springs and most rent seems double here what it is there, and it's for lower quality places," said Morgan Littlewood, a freshman open option major.
Littlewood and her friend Brittany Hanna, also a freshman open option major, attended the Off-Campus Housing Fair on Wednesday and complained they were having trouble locating an apartment close to campus within their price range.
CU students searching for fall pre-lease prospects face some of the most expensive housing costs of any college town in the country, according to a real estate research group.
The annual Coldwell Banker College Home Price Comparison Index, which measures the average cost of a 2,000 square foot home, named Boulder as having the eighth most expensive housing costs of 119 Division 1A colleges. Students hoping to find affordable housing will also fight zoning restrictions and a growing landlord-friendly market.
"In general, Boulder is an expensive place to live, and in comparison to other college towns, is very expensive. I mean, just in comparison to Fort Collins, it is almost night and day," said Hugh Boles with the off-campus student services office.
According to the 2005 census, the more populous Fort Collins has 23,054 renter-occupied properties in contrast to Boulder's 19,747.
Of Fort Collins' rental housing, 31 percent falls within the $500 to $749 monthly rent range, with the median rent being $784. Thirty percent of Boulder's rental properties fall within the $1,000 to $1,499 range, with the median rent at $979.
Palo Alto, Calif., home of Stanford University, has a median rent of $1,349 and topped the HPCI in average home selling price at over $1.5 million.
The list of the least expensive college towns ranked Lubbock, Tex., home of Texas Tech University, number one. Lubbock has a median rent of $649.
Boulder held the eighth spot on the HPCI for 2006 because the average cost of a home is $526,000.
"It's very frustrating to try and find housing here. I'm from Colorado Springs and most rent seems double here what it is there, and it's for lower quality places," said Morgan Littlewood, a freshman open option major.
Littlewood and her friend Brittany Hanna, also a freshman open option major, attended the Off-Campus Housing Fair on Wednesday and complained they were having trouble locating an apartment close to campus within their price range.
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