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With graduation coming up, many graduating students both here at SAU and across the nation are looking for apartments to rent. Many are finding roommates to split the rent with as renting prices continue to skyrocket. Even in Iowa, one of the best states to rent, students are still struggling to live alone.
According to Best and Worst States for Renters in 2024, Iowa is one of the best states for renting, with Hawaii being one of the worst states.
Iowa renters will spend an average of 27.9% of their income on rent. There are also regulations on the amount a landlord can charge if a renter does not pay on time. If a landlord agrees to accept a partial payment, the renter cannot be evicted.
When students choose to move off campus, most choose to rent an apartment with a roommate or two.
SAU senior Riley Lucas is going to be living in the Quad Cities after graduation. She chose to live in an apartment with a roommate. “There was no other way I could afford to live in the Quad Cities.”
Although Iowa is one of the better states for housing, it is still not affordable, according to recently graduated students. In order to be able to afford an apartment, most have to search for one or two other people to live with so that they can split rent.
Some students choose alternate methods of renting when they go to grad school. One method of this is renting a house with roommates.
SAU senior Brynn Beenblossom states, “I chose to rent a house over an apartment because I liked the idea of having a yard and my own space… Houses tended to be cheaper than apartments.” She is living with two other roommates to help with the costs.
Beenblossom says this arrangement provides a lot more space than an apartment, with some added benefits. They can have a garage, and they do not have to pay for some amenities that an apartment might require, as they still have access to some of the benefits of campus.
Buying a house can be really expensive. According to Iowa Real Estate Market, the median home sale price rose 6.5% and the interest rates are 7.28%. Marion homes were up 50.5% and homes in Davenport were up 30.5%. The average rent is $977 in Davenport.
Renting a house is not the only alternative that students can use. One SAU student, who prefers to remain anonymous, has chosen to live in a camper.
“It was going to be cheaper to buy and fix up a camper and rent a space in a campground than rent an apartment.”
The student explains that the average rent of a space in a campground in the Quad City area is about $600 a month as compared to a one bedroom apartment that can go for around $900. Even if they got a roommate, they would still be paying about the same amount to live in an apartment with one other person as opposed to by themselves.
As Des Moines Register puts it, the Midwest is still the most affordable region to live in, despite the fact that it has seen a more significant increase in rental prices.
When comparing the Midwest rent to the rest of the nation, it is $531 cheaper than the national median. In Iowa specifically, it has the fourth lowest median rent prices. Florida is seeing decreases in their rent prices, but they are still $130 more than the national median.
Students today are facing challenges when trying to get housing, especially if they are still in school. They have to schedule classes, homework, and work, just so they can try to make rent. They also have to worry about paying for WiFi and groceries as they will not have access to a meal plan any more.
The housing market is quickly becoming part of many students’ worries over making ends meet.
Cora Schultz is a staff writer for The Buzz.
