International student accommodation in New York is more expensive than in any other city in the US, UK and Australia, ahead of the capital cities of all three countries, according to figures from booking website Student.com. However, Australia was the most expensive destination country overall.
The average spend on rent by Student.com users in the Big Apple was $431 per week in 2015/16, while Boston came in at a close second at $403. The cost of renting in either destination was more than four times that in Auburn, Alabama – rated the most affordable city across the three countries – where the average weekly spend was just $96.
London was the third most expensive city out of 92 included in the ranking, at $359 a week, followed by Washington, DC, at $329. La Jolla in San Diego, California, completed the top five at $298.
Sydney was the only Australian city listed among the 10 most expensive cities in the three countries, costing $285 per week.
“It’s evident that the big urban centres around the world remain huge magnets for both international and domestic students. On average, students pay more to live in these cities,” commented Student.com founder and CEO Luke Nolan.
As well as making up six out of the 10 most expensive destinations in the ranking, the US also dominated the other end of the scale, accounting for all but three of the cheapest cities. In fact, the survey notes that students in New York spend 116% more on their accommodation than the national average, highlighting a broad spectrum of pricing nationwide.
Athens, Georgia had the second-lowest weekly rent after Auburn, at $104, followed by Tallahassee, Florida, where it was $106.
Hull was the most affordable UK city – fourth overall. Students in the Yorkshire city spent 50% less than elsewhere in the country, at $111 per week, the survey revealed. Dundee and Sunderland were also among the 10 cheapest destinations.
“Cities with larger supplies of purpose-built student accommodation (PBSA) tend to be, on average, more affordable than cities that are under supplied,” explained Nolan.
This may explain why none of Australia’s cities were ranked among Student.com’s most affordable destinations. Student accommodation in Australia can be notoriously expensive, due to a shortage of PBSA.
The price of accommodation in Australia is notably higher than in the UK or the US, the survey showed: $268 per week, compared with $223 and $200 respectively.
Because prices were higher overall, students in Sydney spent just 6% more than the national average, the survey shows. However, accommodation in Canberra was considerably cheaper, at $124 per week.
And more affordable options may be on the horizon as Australia is now attracting significant investment from accommodation providers.
In all three destinations, the growth of the PBSA market will create a “diversified range of options that cater to different budgets”, predicted Nolan.
