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Median rent in Fort Collins, CO has increased by $224, or 26 percent, since 2010, according to data from the most recent United States American Community Survey by the Census Bureau. After analyzing the data, researchers from Rent College Pads zeroed in on 200 cities across the country that are home to universities. They found that the cost of rent increased at all but eight of them between 2010 and 2015.
Rent College Pads director of marketing, Jeremy Schmidt, points to several reasons for increases in rent.
“In addition to ever-present inflation, the law of supply and demand is a driving factor behind rent increases,” Schmidt said. “A lack of rental housing, increasing enrollment, dorm shortages, and slow off-campus housing development means more students searching and not enough vacancies.”
At some campuses, there are enough luxury apartments to house virtually every student who’s looking to live off-campus. At others, the situation is bleak. Using the results of the survey data, Rent College Pads researchers looked at the 20 campuses that have seen the biggest increases in rent over the past five years. Here are the findings for Fort Collins, CO:
- 2015 Rent: $1,077
- 2010 Rent: $853
- Change in Rent: $224
- Percent Change: 26%
“With median rents now nearing almost $1400, Fort Collins has seen the cost of rent skyrocket over the past seven years. Enrollment at Colorado State has grown by over 2,000 students since 2010, and with strict enforcement of the U+2 law, which prevents renters from living with more than two unrelated roommates, renters have dealt with a shortage of housing options that has resulted in a boom for landlords.”
Rent College Pads is an off-campus marketplace and search engine that helps college students find housing. Rent College Pads specifically caters to the needs of college students looking for housing, while helping to connect landlords to this large market.
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