Rising housing prices impacting college students

Rising housing prices impacting college students

Rising housing prices impacting college students
Enrollment in some of California’s biggest universities is reaching record levels this year but begs the questions – where will all these students live? Rent prices surrounding colleges are notoriously costly and the ongoing housing shortage that has been driving up rental costs as well is impacting near-campus housing as well.

The University of California has offered admission to a record number of students for Fall 2021 across its nine campuses in the state. Studies show that students who live near or on campus tend to fare better and graduate faster.

Rent costs continue to rise across California. In the Central Vallye, home to Cal State Fresno, rents have risen more than 10 percent in the last year.

Today, conforming no-point 30-year fixed mortgage rates are averaging 2.75 percent and 15-year rates are near 2.00 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article