College and university dorms average around 12 by 19 feet. This is approximately 228 square feet of actual living space. That's about the size of a one-car garage. Within that space, you probably have a roommate.
It is the preferred country for foreign students seeking education in developed countries. Many of those students end up in Western Europe as an alternative, with the U. There was a time when student housing meant living in a dorm room on campus or in an apartment in the city. But parents who went to college 30 years ago may now be surprised to find modern off-campus student housing that offers everything from tanning salons to spas, retail stores and 24-hour gyms.
In terms of affordability, student housing generally offers accommodation at prices comparable to those of alternative shared housing and conventional apartments. Although still a small subset of the multifamily market, student housing has attracted increasing interest from institutional investors. On-campus housing tended to be austere, and off-campus housing likely consisted of a poorly maintained apartment shared with several roommates. Off-campus private housing offers accommodation to 6,890 students, and the remaining 27,657 find accommodation in the conventional housing market.
Depending on demographics, the economy and the projected growth in the number of university students, demand for student housing is expected to increase. The share prices of two of the largest student housing REITs, ACC and Campus Crest, recovered substantially and, in early July, were within 80 percent and 91 percent of their respective highs. Comparing the quality of the alternatives, student accommodation offers greater security, superior amenities, faster Internet and greater proximity to campus. Wyoming, Mississippi, Vermont, South Carolina and Montana have the largest student housing units in the country.
Overall, the net effect of the factors that determine the demand for student housing is expected to generate a continuous growth in the number of students attending universities. Southern and Southeastern states tend to have larger privately owned student housing units, while Northeastern and Western states tend to have smaller units. Byron Moger is the executive director of the Multifamily Advisory Group in Florida for Cushman %26 Wakefield and also directs student housing tasks across the country. What investors find attractive in student housing are the returns compared to conventional apartments.
While there are many universities in New York, student housing is very different from those in the Sun Belt: there are more college-owned housing and fewer sales of privately-owned properties.