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2016 Average Student Rent Costs Revealed

By now, most students will have settled into their university accommodation. For those who had offers accepted long ago, it should have been the next task on the “To Do” list. Clearing is stressful and anyone who went through that process would have been in a race against time to snap up the last remaining available accommodation.

There may still be a handful of students left still looking for somewhere to live before the academic year begins in the next couple of weeks. Here, we reveal the cheapest and most expensive university cities and regions.

 

Survey Statistics Revealed

A survey released in August for university owned rental prices in 2015 revealed that Wales (on average) had the lowest and London had the highest. Mean rent in Wales was just £107.73 per week while London’s was £181.62 per week. If you are still looking for accommodation, it is important that you use these two figures as a yardstick no matter where you are in the country. The national average for student rent for all university cities was £134.23 per week.

The survey also revealed that Yorkshire was the cheapest region for private accommodation with an average cost of £119.93 per week. London came out on top as the most expensive again with an average of £250.67 per week. The national average for this type of accommodation was slightly higher than university accommodation at £168.94 per week.

 

University Not Always Cheaper

Universities up and down the country have been growing their property portfolios in an attempt to corner the market, driving profit in this area to cut costs to students elsewhere. Generally, custom-built student accommodation is slightly cheaper than private accommodation, but this is not always the case. The survey revealed that in the East Midlands and in Yorkshire, privately rented accommodation for students was cheaper than the property offered by universities.

London’s property portfolio of student accommodation is much higher because most of it is owned by businesses, and not by individual landlords or universities. On average, rents in London are 69% higher than the national average.

 

If You Are Still Looking for a Place

If university campus accommodation is not for you, or you are still looking for accommodation, we strongly recommend that you search through the Pads For Students Database. We have a large range of properties suitable for every budget and every student type.

We recommend that you read the report released in April 2016 to see how much rent you can expect to pay in the area where you are now living. Check it against the regional and national average. Some properties are worth paying a little more for, but this report can help you make the right decision for your needs and for your finances.