Boulder Hill Rental Rates Adding To Student Debt
Being a CU Boulder student may already mean student loans, but now students are getting more and more concerned with where they are going to live. The Boulder Hill has prices rising with each school year. The University has been improving in ratings. CU Boulder is accepting more students with each school year and in turn raising tuition prices. The Boulder Hill is of key location to the campus, restaurants, and fun for many Boulder college students. It is where all the students strive to live.
Unfortunately the supply of college housing is not increasing with the climbing demand of students entering Boulder. It is not unusual for some college students to live on the Boulder Hill with three roommates paying a rent over $1,300 per person each month. These rent proportions can lead some landlords to be pocketing more then $5000 per month off of one rental unit.
CU Boulder Off Campus Housing Preferred Location
Rent rates this high, are higher then a LoDo apartment in Downtown Denver by a mile. Getting a perspective from a senior student at CU Boulder, Jordan Hizel, who currently lives on the Boulder Hill and understands the struggle of finding housing; “It is very difficult to find affordable housing, you must accept you are not going to find something without a high cost if you want key location. I sign my lease every year the November before the next school year in order to get a house in a location I want. Each year people are signing leases earlier and earlier on the Boulder Hill for higher rents. If you want to be in the key location, which is the Boulder Hill, you will pay the price to do so.” Signing leases the November before the following school year is not uncommon. The demand for limited housing is becoming that high on the Boulder Hill.
It seems to be the case that the high cost is having a key focus on location and little to do with the quality of the homes these students are paying for. Jordan mentioned that she has an apartment that is not up to date with quality finishes or appliances. In fact, she and her roommates do not even have laundry within their condominium unit. Does this seem absolutely crazy? It isn’t crazy to the CU student population.
With a place directly across from campus, taking just moments to walk to class, and minutes to walk to some of the best restaurants. Popular restaurants on the Boulder Hill for many students are The Corner, Illegal Pete’s, Freshii, two Starbucks, Salvaggios, and more.
The location and convenience of the Boulder Hill has become precedent over other factors involving living situations for students. Most apartments and houses that are rented to students for high rates on the Boulder Hill are not up to date or newly renovated places. Places that are brand new and completely up to date on the Boulder Hill will be even higher prices then the $1300 per person.
Boulder Home Owners Renting Vs. Selling
What does this mean as a homeowner in Boulder? Your home is only becoming more and more valuable as time goes by, with the market surging. As a home buyer it is a difficult task to find something that is cheaper, homes are selling above list price within just a few days of being on the market. The supply is low and the demand is only increasing. Parents of students are choosing to purchase condos, town homes and single family houses on the Boulder Hill because it is an investment with a University and city growing in population and the average supply of housing staying nearly the same.
Investing or purchasing a place to live? Contact Boulder Realtor Bob Gordon now to find your ideal place on the Hill. Click here or Text/Call Bob at 303-931-9901.
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