UK Students paying 60% more for accommodation rent

University students are currently paying 60% more in rent for student accommodation  than students a decade ago.

A survey has shown that the average rent of student accommodation is £7,347, which exceeds the typical student maintenance loan.

The survey analysed 500,000 beds in student halls, and results proved that rents have been steadily rising with prices 16% higher pre-pandemic and 4.4.% higher than last academic year.

London is especially pricey for students, as rents average 61% more than the rest of the UK at £10,857.

Because of these rent prices, many students are forced to seek part-time work, receive family help, or even live at home, since the average maintenance loan, designed for living expenses, is only £6,900.

The National Union of Students and housing charity Unipol’s report alerts that the cost of student rent is increasing far more rapidly than inflation.

It’s disgraceful that so many young people are priced out, either deterred or unable to apply to university, or have their options severely limited by where they can afford to live

– Hillary Gyebi-Ababio

There is a growing lack of genuinely affordable rooms, and choice is lessening as private halls providers dominate the market. Often, these providers focus on offering luxury studio apartments catered to international students.

The report found that private providers operated 70% of the beds surveyed – the numbers have more than doubled from 2012-13 – with 142,439 beds to 361,717 in 2021-22.

These spaces are reported to be 24% more expensive than university-owned accommodation – a self-catered room in university halls costs an average of £5,157 versus £7,264 for private halls.

Hillary Gyebi-Ababio, the Vice-President for Higher Education at the National Union of Students, states: “The affordability of student accommodation affects students’ educational experience, and also has a major impact on access and widening participation.

“It’s disgraceful that so many young people are priced out, either deterred or unable to apply to university, or have their options severely limited by where they can afford to live.”