According to a first-ever study conducted by the city of Madison and UW–Madison, less than one-third of the university’s off-campus housing is considered affordable for students, the Wisconsin State Journal reports.
The study found that nearly 70% of rentals are too expensive, with individual student rents of $1,000 or more per month, and UW–Madison is one of the Big 10 conference’s most expensive off-campus housing markets. On-campus housing at UW–Madison, on the other hand, averages roughly $869 per month per bed — around $400 less per month than the average off-campus price per student.
To reach an “affordable” price point of about $980 per month requires about one-quarter of students to share bedrooms, not just an apartment, with roommates. The average off-campus apartment rents for $1,273 per month per student bed; for newer apartments, that number is typically $1,575.
Nearly 3,600 students were surveyed, and they paid an average rent of $903 in spring 2024 — reporting that they became savvier with experience in the housing market, allowing them to find cheaper rents.
Off-campus student housing has an occupancy rate of 98%, resulting in vacancy below the rate of 5–8% considered healthy.
More student housing is anticipated in the coming years, with 1,700 units currently under construction and another 4,000 units proposed.
