The cost and reality of being a university student
A deep dive into how rent increasing is affecting students and their personal wellbeing
In the last 12 months, the Office for National Statistics (ONS) has reported rent has increased a staggering 8.4% on average across the country. With 2.94 million university students across the UK, this has left students in some areas struggling to afford living costs at university as rent and tuition fees continue to rise many universities have introduced support packages to their students.
According to the National Union of Students, ‘the average student loan in England leaves students with just 50p a week to live off after paying extortionate rent’.
For many Undergraduates, this has made university life unaffordable, with 56% of students taking on the toll of having a paid job whilst studying, according to the Guardian. Many students have opted to move back home while finishing their degrees. One student, Molly Upton, from Oxford Brookes University, is living her third university year at home to save money on rent, with the average Oxford house price being £1693, not including bills, according to ONS.
Dr Tim Bradshaw CEO of the Russell Group said: “It is concerning that rent now takes up most of the average student maintenance loan, and without action, this will only worsen in the next academic year as maintenance loans for students in England increase by only 2.8%, far below current inflation levels.”
Why is rent going up?
According to the National Office of Statistics, rent has seen a sharp spike increase since 2022, due to increased demand for homes after COVID-19. Due to unaffordable house prices, people began to look to rent, driving prices up 48% in the last year in cities such as Bristol, according to the letting agency today. Furthermore, the delays in development due to COVID-19 have left millions no choice but to rent at extortionate prices.
Furthermore, due to the pandemic, a shift has been created in work behaviour, with many full-time workers opting to work from home or hybrid. Between the 2nd and 27th of October 2024, 28% of people worked hybrid, according to an ONS Survey on working from home after the pandemic. This means desirable places to live, for example, Oxford have increased in rent as demand rises. For instance, the average rent in Oxford in August 2024 is £1693 per month, whereas in August 2019, rent in Oxford was only £1470.
The continual rise in rent in the last 12 months is shown below in the most popular student cities in the UK, as determined by a survey created by prospects. Looking at data collected by ONS on the graph between August 2023-2024, the majority of popular cities' rent prices are rising, and the surge is not meant to stop. According to the Big Issue, rent is due to rise another 4% in 2025, putting students across the UK in more financial debt due to the cost of living crisis.
Additionally, there is a clear regional disparity in rent prices, influenced by factors such as whether a city is a more popular tourist attraction or has a historical significance. Additionally, Due to university appeal in certain cities, demand rises, allowing landlords to increase rent where they see fit, disadvantaging students during the cost of living crisis. However, rent in Oxford has approximately dropped 8% from last year, according to the ONS, due to post-pandemic adjustments, meaning students across the UK could have a gleaming light of hope as the cost of living crisis is easing.
According to confused.com, ‘almost a third (31%) of students funded their accommodation costs by asking their parents to help with rent in 2023’. Students are finding it increasingly impossible to afford a lifestyle at university. For an Oxford Brookes student like myself, it costs me, on average £246.25 a week to live off. However, that is without extra course materials or travel costs. Many students like myself are opting out from further education by studying for a master’s degree as it has become unaffordable.
How is this affecting students?
The long-term effect on student well-being is being discussed as students must choose between university life and practising their degree. Students are tackling the rise in rent by cutting down on food or getting part-time jobs. Additionally, this affects student's mental health, with Kings College London reporting, “NUS survey reported that 90% of students say the crisis has an impact on their mental health, with 31% of them reporting a “major impact”. With growing levels of anxiety and depression among university students due to the cost of living crisis, housing security is needed.
A third-year student at Oxford Brookes University, Ben O’Brien, 21, studying accounting and finance, gave his opinions on the rising rent prices and how it affects his life. “Oxford renting prices for students are way too high, in my opinion, it puts unnecessary stress on me to be able to pay these prices while trying to focus on succeeding in my academics. This stress prevents me from making decisions that are best for my future and makes me think more in the now and how I’ll be able to afford the high prices of rent within my student loan.”
The student experience is constantly being shaped as rent prices continue to rise. Amending the issues includes a multi-faced approach, including rent capping in areas of the UK. However, the glimmer of hope may just be over the horizon as the property portal said there were signs of the market cooling, according to the BBC. Furthermore, the government introduced the higher education mental health implementation task force, to help build guidance and key initiatives like Every Mind Matters to support students.
However, the data still paints a clear picture that students are having unnecessary strains put on their mental health across the country due to the impact of rental prices increasing. Choosing higher education should not come at the cost of student well-being or basic needs like university supplies.
While historic and popular cities may seem appealing to some university students, the cost of living makes them unavailable, putting students in struggling positions to choose their futures. As rent prices increase, there are reports of many universities addressing the issues, offering warm spaces on campus to study or food subsidies, for example, Newcastle University. Ultimately, the responsibility lies with the government to help students tackle this rough period.