Aerial view of the University of Texas campus including the UT Tower as seen on Sunday April 23, 2017. RALPH BARRERA/AMERICAN-STATESMAN Hide caption
Students of the University of Texas may face issues of housing affordability on top of their educational expenses.
Prices of apartments surrounding the UT campus are nearly twice as much as the average rate of rent compared throughout the rest of Austin, according to a report published by RentCafe.com.
The report looked at apartments near US & News World Report’s Top 100 Colleges/Universities to find out how much rent students are paying to live by their campuses. Among the list of universities, UT ranked #49 in terms of best colleges, according to US & News World Report.
In 2019, the average rent for an apartment in a one mile radius of UT is $2,419. The average apartment rent in the city of Austin is $1,378. Apartments within a two mile radius of the campus have an average rent of $2,267. The study stated that there is a 75 percent difference between the average rent of apartments around campus compared to the rest of the city.
The most affordable top ranked university to live near is University of Illinois Urbana-Champaign, where the average rent within a mile of the campus is $890.