Many cities and mid-sized towns have a college or university that’s close to their residential neighborhoods. There are several pros and cons to living near a campus. While some people aren’t crazy about the idea of living somewhere close to rowdy students and increased traffic, there are quite a few financial and social benefits that make living there so valuable. We’ve outlined the pros and cons of living near a University.
Low Cost of Living
In most cases, the real estate market in college towns is very strong for rentals. Landlords offer low rent to college students but protect themselves against property damage. Property damage is more likely to occur when renting to students, many of which can be risky tenants that tend to host parties. You are less likely to have to worry about these kinds of charges if you’re an adult who has joined the workforce, as you’re not living the same kind of lifestyle as a college student.
There is ample opportunity to make money when residing close to a campus. It doesn’t take long to get approved to become an Uber driver or food courier with apps like Grubhub and Doordash. College students depend heavily on these services, especially younger students who most likely don’t have a car on campus.
Oftentimes, college towns have lots of cultural events and forms of entertainment available. If you choose to live in a college town, you will be exposed to more concerts, speakers, festivals, and nightlife than you normally would living in the suburbs. Another bonus: living near a university also provides more affordable and unique dining options.
This will likely only be a concern if you’re living right next to college students. Parties and other loud activities are a regular part of the student experience. If the university has a large athletics program, you also may be subject to noisy game days whether it be your proximity to the stadium or areas designated for tailgating.
Living near a campus can be a disadvantage when it comes to days that increase traffic around town. Move-in/move-out days and Football games are some of the biggest pain points, but they are not an everyday inconvenience and are relatively easy to plan around. There is also an increase in pedestrians and bicyclists around college campuses, which can lead to frustration among drivers commuting to and from the area.
A large portion of the real estate around a university depends on college students, the majority of which are only there for 4 years. This leads to a high turnover rate, which can make it so that your neighborhood never really has the feeling of permanence. Very few families tend to put their roots down in the busy area surrounding a university, especially when nearby areas are quieter and more suited to family life.
There are a lot of things to think about before you consider living near a university. If you have more questions about this contact us today to discuss your options!