Gen eneral Session: on: N NMHC R C Research h Co Compar - - PowerPoint PPT Presentation
Gen eneral Session: on: N NMHC R C Research h Co Compar arative A Anal nalysis of the Cost of Ho Hous using O ng Options ons f for Studen udents Chris Bruen Assistant Director, Research NMHC Co Compar aring t g the he Co
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Chris Bruen Assistant Director, Research NMHC
1) 1) How How do t
e fol
g Stud uden ent Hous Housing op
differ i er in v val alue ue?
1) 1) How How do t
e fol
g Stud uden ent Hous Housing op
differ i er in v val alue ue?
2) W ) Within eac each h hous
ype, e, what fac actor
have t e the gr e grea eatest influen uence on e on per er-bed ed r rent nt le levels ls?
Axiometri trics, s, a R RealPage Company ny NMHC MHC
Annual Per-Bed Rent Region Number of Students per Bedroom Rural-Urban Spectrum Number of Students per Unit Distance from Campus In-Unit Bathroom Configuration Private vs. Public School Living Room (on-campus only) Presence of Ethernet (on-campus only) Square Footage per Student (off-campus only) Presence of Full Kitchen Washer/Dryer In-Unit (on-campus only) On-Site Fitness Center
Universi sity ty Nam Name Ci City Sta tate te Ty Type
Appalachian State University Boone NC Public Auburn University Auburn AL Public Baylor University Waco TX Private College of Charleston Charleston SC Public Florida International University Miami FL Public Florida State University Tallahassee FL Public Georgia Southern University Statesboro GA Public Louisiana State University Baton Rouge LA Public North Carolina State University Raleigh NC Public San Diego State University San Diego CA Public University of Alabama Tuscaloosa AL Public University of Arizona Tucson AZ Public University of Florida Gainesville FL Public University of Michigan Ann Arbor MI Public University of Mississippi Oxford MS Public University of Missouri Columbia MO Public University of Notre Dame South Bend IN Private University of Oklahoma Norman OK Public University of Pittsburgh Pittsburgh PA Public University of Texas at Austin Austin TX Public University of Wisconsin - Madison Madison WI Public Western Michigan University Kalamazoo MI Public
1,000 00 2,0 ,000 00 3,0 ,000 00 4, 4,000 00 5,000 00 Stude dent nt-Compe petitiv ive Apar artm tments Pur Purpose-B
uilt A Apart rtme ments On- On-Campu pus Re Resid idence nce Halls lls On- On-Campu pus A Apa partment nts
Number of Floorplans by Student Housing Type
Off-Cam Campus P s Purpose
ilt 2,550 Floorplans at 22 22 Universities
Off-Campus mpus Stude udent-Com Competi titi tive e 4,615 Floorplans at 22 22 Universities
On-Campus mpus Reside dence H Hall 771 71 Floorplans at 22 22 Universities
On-Cam Campus s Ap Apar artm tmen ents s 114 114 Floorplans at 8 Universities
$7 $7,05 056 $7, 7,717 $10 10,965 65 $1 $13,09 093 $0 $0 $2,0 2,000 $4, 4,000 00 $6 $6,0 ,000 00 $8,0 8,000 $1 $10, 0,00 000 $1 $12, 2,00 000 $1 $14, 4,00 000 On- On-Campu pus A Apa partment nts On- On-Campu pus Re Resid idence nce Halls lls Pur Purpose-B
uilt Stude dent nt-Compe petitiv ive
Average Annual Per-Bed Rent by Housing Type
0% 10 10% 20% 0% 30% 0% 40% 0% 50 50% 60% 0% 70% 0% 80 80% 90% 0% 100% 0%
On-Ca Camp mpus Re Resid idence Ha Hall ll Purp rpose-B se-Built Stu tudent-C ent-Competi etiti tive
Floorplans by Number of Students per Bedroom
4 o
r More re 3 ( 3 (Tr Trip iple le) 2 (D 2 (Doub uble) e) 1 ( 1 (Single)
$0 $0 $2, 2,000 $4,00 000 $6,00 000 $8,0 ,000 $10,000 $12, 2,000
1 ( 1 (Singl ingle) 2 (D 2 (Doub uble) 3 or
Mor
Average Annual Rent per Bed by Students per Bedroom
On-Ca Camp mpus Re Resid idence Ha Hall ll Off-Ca
s Purp rpose-B se-Built
0% 10 10% 20% 0% 30% 0% 40% 0% 50 50% 60% 0% 70% 0% 80 80% 90% 0% 100% 0%
On-Ca Camp mpus Re Resid idence Ha Hall ll Purp rpose-B se-Built Stu tudent-C ent-Competi etiti tive
Floorplans by In-Unit Bathroom Configuration
Pri rivate te Sha hared red None ne
$0 $0 $2, 2,000 $4,00 000 $6,00 000 $8,0 ,000 $10,000 $12, 2,000 $14,000 00 $16, 16,00 000
On-Ca Camp mpus Re Resid idence Ha Hall ll Purp rpose-B se-Built Stu tudent-C ent-Competi etiti tive
Average Annual Rent per Bed by In-Unit Bathroom Configuration
None ne Sha hared red Pri rivate te
On-Campus Residence Hall Floorplans
In-Uni In-Unit L t Living ng R Room
23%
$0 $0 $2, 2,000 $4,00 000 $6,00 000 $8,0 ,000 $10,000 $12, 2,000 $14,000 00 $16, 16,00 000
Less ess than 0 0.5 m 5 miles es 0.5 t to 1 m 1 mile ile More tha han 1 n 1 m mile ile
Average Annual Per-Bed Rent by Distance from Campus (miles) Pu Purpo pose- se-Built Studen dent-Co Compet petitive ve
Stu tudent H ent Housi using ng Type Per-Bed R Rent Premiu mium Stu tudent ent-Competi petiti tive e Housi sing ng (rel (relati tive to e to pu purpo rpose se-bui uilt) t)
9%
On On-Campus us Resi esidence ence Hall (rel (relati tive to e to p purp rpose se-bui uilt) t)
9%
On On-Campus us Apartm rtmen ents ts (rel (relati tive to e to p purp rpose se-bui uilt) t)
26%
Dependent Variable: Natural Log of Annual Per-Bed Rent
52% 35% 56%
20%
0% 10 10% 20% 0% 30% 0% 40% 0% 50 50% 60% 0%
On-C
mpus us Pur Purpose-B
uilt Stude dent nt-Compe petitiv ive
Per-Bed Rent-Premium (Relative to Urban Areas)
Very ery Larg rge Ci e City ty U Urb rban Rura ral
0%
0% 0% 2 3 4 o 4 or M r Mor
Per-Bed Rent Premium by Number of Students per Unit (Relative to 1)
Pur Purpose-B
uilt Stude dent nt-Compe petitiv ive
25%
20%
5% 0%
2 3 o
r More re
Per-Bed Rent Premium by Number of Students per Bedroom (Relative to 1)
On-C n-Campus Purp rpose-B se-Built
2%
5%
3%
25%
20%
5% 0%
On-C
mpus us Pur Purpose-B
uilt Stude dent nt-Compe petitiv ive
Per-Bed Rent Premium for Southern Universities (relative to the Midwest)
7% 10%
20%
5% 0% 5% 5% 10 10% 15% 5%
Purp rpose-B se-Built Stu tudent-C ent-Competi etiti tive
Per-Bed Rent Premium For Square Footage, Distance From Campus
Pe Per Mi Mile le O Off Ca Camp mpus Per 1 er 100 S 0 Sq. F
t.
5% 10 10% 14% 4% 30 30% 8% 8% 28% 8%
0%
20%
0% 10 10% 20% 0% 30% 0% 40% 0%
On-C
mpus us Apar artm tment Pri rivat ate Univ niversit ity In-Unit Ba t Bath throom
Washer/ r/Dry ryer I r In Unit nit Livin iving g Room In In Unit nit Et Ethe herne net In Inclu clude ded
Per-Bed Rent Premiums for On-Campus Housing