Is It Cheaper To Live On Or Off Campus?

Studying at a university or college is an exciting time in the life of many people – but it often comes with a high price. Aside from tuition, college students must consider where they’ll live if they plan to attend classes in-person.

Some colleges require students to live on campus for at least some portion of the time they spend pursuing a higher education. Students who are able to choose, though, will likely want to figure out whether it’s cheaper to live on or off campus.

Let’s examine the facts so you can find the right option if you’re saving for college.

Where Can College Students Live?

Even though some institutions require that students reside on campus for a year or even longer, students still have a number of living options. It’s time now to take a look at where college students can live.

On Campus

According to the Bipartisan Policy Center, about 18% of undergraduate students live on campus; the organization says this figure has been consistent for decades.

On-campus housing has moved beyond just dormitories where you’re randomly assigned a roommate. Today, some college campuses also have apartments, especially for older students. Some campuses also have “living-learning” or “theme” communities geared toward students with similar interests or areas of study.

Typically, on-campus housing options are furnished and include utilities. Many newer residence halls also include amenities such as fitness centers. On-campus students might find that it’s easier to get around, too, since they probably won’t have to worry about parking, and many of their needs are within bicycling or walking distance. College towns typically have solid public transit options as well.

With Their Family

Students living with their parents can save a lot of money. In addition to a financial safety net, they may benefit from the emotional support that might come with having family close by. On the downside, these students might be less involved in campus life, complete fewer credit hours and have a lower GPA.

In Off-Campus Houses Or Apartments

Some college students go with off-campus housing for maximum independence. That is, they don’t have to follow some of the institution’s rules. Not all off-campus housing is the same, though. For example, some off-campus housing comes with dorm-like conveniences such as furnished rooms, utilities and proximity to campus. Other options require students to furnish their accommodations, set up utilities and commute to campus. 

One of the biggest perks of off-campus housing compared to on-campus housing is being able to save money by having more roommates, since monthly rental costs can be divided evenly among them. But while more roommates mean each roommate will pay less in rent, everyone will have less privacy.

How Much Does It Cost To Live On Campus Vs. Off Campus?

While academic and social factors are important, the cost of living is often the biggest concern for college students when deciding where to live. Let’s walk through how the costs of different living arrangements compare.

The Cost Of Living On Campus

According to the Education Data Initiative, room and board is $7,063 to $13,028 per year for undergraduate college students living on campus. The range varies from a two-year public college to a four-year, non-profit private institution.

Typically, on-campus housing has shared kitchens, so students often find it more convenient to rely on campus dining halls for most of their food. The convenience comes at a premium, though. University meal plans, which cover about 8 months out of the year, typically cost 70% more than what the U.S. Bureau of Labor Statistics estimates someone would spend on food they cook on their own over the course of a year.

On-campus housing costs include utilities and Wi-Fi access.

Consider Housing During Breaks

The nine-month academic year typically features multiple breaks, and on-campus housing often isn’t open when classes aren’t in session. When crunching the numbers, students should consider the costs of food and housing during these times.

Off-Campus Costs Of Living

Thanks to a laundry list of variables, pinning down the average cost of off-campus living can be hard. Some off-campus students might opt for an apartment where they live on their own, while others will cram several roommates into a house or apartment to lower their individual rent costs.  

Food and internet access should also be important cost considerations for off-campus living. The Education Data Initiative estimates that the average cost of living off-campus ranges from $10,229 – $11,269 per year. This represents costs ranging from a two-year public college to a four-year, non-profit private institution.

Students thinking of living off-campus will need to consider the additional cost of Wi-Fi and utility bills if these aren’t included in rental costs. 

Living On Campus Vs. Off Campus: Upsides And Downsides

Let’s quickly review some advantages and disadvantages of living on campus and off campus.

Living On Campus: Pros And Cons

Living Off Campus: Pros And Cons

The Bottom Line

Living off campus can be a cheaper option than living on campus, making it easier to afford a higher education. But living on campus can open up a range of academic benefits and student-life opportunities that living away from campus may not allow for.

It’s also possible to do both: Many students spend a year or two living on campus to get the full college experience, before moving off campus once they’ve become integrated into the campus community and built their social network.

Setting and sticking to a budget can help keep your college-related expenses in check no matter the living situation you settle on. Download the Rocket Money℠ app and start managing your money like a pro!