After tuition fees, accommodation most often represents the biggest area of expenditure for university students. And for every student, it’s important to be aware of these costs and factor them into their budgets as early as possible.
At Student.com, our mission is to help every student find the perfect home for their studies. So we believe it’s important to provide them with as much information about renting student accommodation as possible.
That’s why every year we release an analysis of how much students spend on their rent in top study destinations worldwide.
Our report this year, Cities in Focus: 2018 Global Student Accommodation Indicator, analyses weekly rent spend by students who booked accommodation in 125 cities across the globe.
Here are some of the report’s key findings:
- The average weekly spend on rent worldwide is approximately $214 USD per week*.
- On average, students in Australia ($255 USD) spend the most on their weekly rent – 19 percent more than the global average.
- When it comes to cities, students in Albacete ($60 USD) spend the least on their accommodation rent, followed by students in Johannesburg ($76 USD) and Singapore ($94 USD).
- Students in Boston ($464 USD) spend the most, followed by New York ($402 USD). Student accommodation in London costs on average $339 USD.
- In some cities, students are spending less on their rent compared to the previous year. For example, in London students spend an average of £263 a week (approx. £2 less a week than the previous year). Other examples include Bristol – £172 a week (approx. £1 less a week), Exeter – £174 a week (approx. £1 less a week), Newcastle upon Tyne – £134 a week (approx. £3 less a week), and Liverpool – £122 a week (approx. £7 less a week).
Commenting on this year’s findings, Student.com’s founder and CEO Luke Nolan said: “Globally, students are becoming savvier when searching for and booking accommodation. They have greater access to information and resources, and are generally able to gain a quicker understanding of the options available to them in their study destination. In cities with a wide range of student housing options, we’re seeing an increasing number of providers becoming aware of the need to price competitively and consider offering additional incentives to students – from group discounts to cashback offers.”
The full report includes:
- Rankings for the top 20 most and least expensive cities for student accommodation
- Country rankings, in local currencies, for Australia, Canada, France, Spain, the UK, and the US
*Global amounts in US Dollars are based on exchange rates at the time of booking.