For college students, the distance between campus and housing does matter.
A study from Ball State University shows the students are willing to pay more to live within a one-mile radius from their campus. The cost for those apartments is 16 percent more than the cost of living four miles away.
There are several benefits students recognize to living close to campus: it could be a short walking distance to classes; car, gas and parking are not issues; and there is easy access to the campus environment. The students who live between one and four miles away are more likely to commute, and driving is not a factor for them. However, the cost of living four miles or more away averages a 13 percent discount in rent.
Student housing is a competitive business, and there are college students paying more than $500 per month per bedroom. Some apartments provide nice luxuries such as a private bathroom per bedroom, swimming pools and high-speed Internet.
While these luxuries are nice, this study proves that there is a No. 1 factor students consider when choosing housing: location.