Many students at the University of Wisconsin-Madison struggle with rent costs and availability, according to a new study commissioned by the university and city of Madison.
Funded by the city and university and conducted by Chicago-based consulting firm Jones Lang LaSalle Inc. (JLL), the study, released Aug. 26, consisted of a survey on UW-Madison students and a separate analysis of the Madison housing community. The university distributed the survey to 46,000 undergraduate and graduate students, and 4,401 students responded.
Students face many challenges in the search for campus living. Factors like an increasing rate of non-student residents, competitive fall leasing periods and expensive rates put pressure on students.
When looking for housing, students prioritize proximity to campus and cost. The average UW-Madison student pays approximately $1,723 per month for housing, but “affordable” student rent was defined at around $980 per month, according to the study.
These rent prices are only found on older properties, many of which have been around for 20 or more years, according to the study. Other students lower their costs by sharing a bedroom with someone — roughly 27% of students surveyed share a bedroom, and over half said the reason they’re sharing a room is due to cost efficiency.
The percentage of students sharing a room at UW-Madison is significantly higher than those of other universities (most are around 10%, according to the study). The study also found that sharing a bedroom shaves off about $100 on monthly rent.
The housing market in Madison is particularly unique due to state Capitol proximity, the downtown atmosphere and its location on a narrow isthmus. For a college town, Madison’s housing market circumstances are unique because both college students and young professionals are drawn to the area, which limits the amount of space available for students.
The fall timing of the leasing schedule also creates inconveniences, especially for first-year students who don’t have time to understand the market, according to the study. For transfer and graduate students, the pressure of finding housing within the small window of time between their admission decisions and the academic year is high.
The Madison Plan Commission met Aug. 26 to discuss the results and suggest methods of achieving more affordable housing on campus.
The consultants told the university to build more on-campus housing, as living on campus is one of the most affordable options for students. UW-Madison’s newest residence hall, Leopold, opened in 2013.
“University Housing has been actively working with the Universities of Wisconsin and our state partners to pursue options that would enable us to house all students who desire to live in campus residence halls,” said Associate Vice Chancellor Jeff Novak, who leads University Housing at UW-Madison. “We are trying to move this process forward as quickly as possible.”
The survey also recommended the university continue to find ways to help students understand Madison’s unique housing market. University Housing created an Off-Campus Housing Services office last year to help students find off-campus housing.
“We now know exactly what causes local housing market trends, the type of units the city needs to focus on building and how to better educate students on what currently exists,” District 8 Ald. MGR Govindarajan said in an Aug. 27 statement. “Students consistently expressed not knowing enough about the housing market in both study groups and surveys, it falls on the University and City to provide the resources and educate our community.”
Additionally, the survey noted that UW-Madison helps many students offset expenses that come with being a student through financial aid initiatives that include food and housing. These include Bucky’s Pell Pathway and the BANNER program.
Additionally, the commission recommended that the Common Council make zoning changes and tax incentives for developers who are currently building new units. While housing availability is competitive and limited, the market is expected to thrive in the upcoming years, and the survey predicted that demand will continue to increase.
Ella Hanley is the associate news editor for The Daily Cardinal. She has written breaking, city, state and campus news. Follow her on Twitter at @ellamhanley.
