Is It Cheaper To Live Off-Campus Or In A Dorm?

• Is it cheaper to live on campus or in an apartment outside school?
• Which is better, dorms or off-campus apartments?
• Is it ok to live off-campus as a freshman?

All of these are very common questions among students, especially freshmen. But then this piece will border majorly on the first question which is determining the cheaper option between staying on campus and staying off-campus. While there is no clear-cut answer to that question, to a large extent, it costs more to stay in college dorms than outside school.

Ordinarily, the cost of living in New York ranks 10th out of 541 cities in the world. For a single person, the average cost of living in the city is $1,293.75 excluding the cost of the rent. But even with this, it is difficult to pin an answer to the question. The cost of living inside school varies along the lines of the quality and prestige of these different schools and even the dormitory in question. And the cost of renting a place outside school also depends on the apartment you intend to get and the level of its proximity to the school. A metro apartment co-living space will most likely be more expensive than the usual student housing apartment. But largely, dorms are usually more expensive.

Average Cost of Living off-Campus

Living off-campus in 2020 is a lot of money. You get to spend on rent, gas/ transport, utility bills, and a lot of other costs. On average, per month, staying outside school dorms costs $3,020 on basic expenditures. $2,000 on rent, $400 on utility bills, $350 on Cable/Internet, and $270 on Food for a moderate eater. In a semester a student staying outside the school will spend a total of $12,080.

Average Cost of Living on Campus

Within New York, about 210 schools offer on-campus accommodation facilities. Presently in 2020, the average cost of living in college dormitories in New York City is $14,529. So when a student lives on campus in a dormitory or college apartment, he spends $14,529.

Living on Campus vs Living Off-campus

The rental cost of living off-campus is cheaper than the price of a room or bed in the school, although additional running costs on utility, furniture, and fixtures might eventually scale up the cost of living outside the campus and bring it to par and sometimes more than the cost of college dorms. So, in the eventual play out, the cost of renting an apartment off-campus might be more than the cost of securing a place on campus.

But considering the co-living accommodation arrangements, it is safe to say that one can live in a beautiful environment, close to school, and still spend less on rent and utility bills. So, to the question ‘Which is better living on campus or off?’ You’ll agree that the option of living outside the campus is a better choice. At least in terms of cost.

Living off-Campus As a Freshman

As a freshman in New York City, you can decide to either stay on-campus or off-campus. But it is best to stay on campus for your first year to help you make friends and get acquainted with a lot of your colleagues, besides, as a freshman, you just might not be ready to take up the responsibilities of settling financial commitments and all. Staying on campus saves you this stress and helps you familiarize yourself with the city before you eventually move outside the campus.

But in all, co-living apartments help reduce the cost of living off-campus, you get to enjoy your privacy, share costs, and chores and still have the feel of being home-away-from-home. So with co-living spaces, ‘Yes to apartments’, is the answer to the question “is it cheaper to live on campus or in an apartment.”

Check SharedEasy for co-living apartments in New York. They have several co-living apartments in Boston, and Brooklyn and even co-living apartments in manhattan, so whatever location you decide, all you have to do is just hit SharedEasy up, they offer one of the best co-living spaces.

You may also read this article to learn more about how to cut the cost of housing in NYC.