How to Choose Between a College Dorm or Apartment
Start by comparing the cost of rent., Factor in utility payments., Look into the cost of food., Think about free amenities., Compare the final costs.
Step-by-Step Guide
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Step 1: Start by comparing the cost of rent.
When you begin to consider your finances, see if there's a major difference in rent costs between an apartment and the dorm.
Oftentimes, the cost of rent alone is cheaper off campus.
The monthly rent for a dorm may be quite high.
If you do not currently have an apartment lined up, you can browse listings online to try and get a general sense of what the price range tends to be in the area.
You should be able to find out how much a dorm costs on your university's website.
Write down a rough range of costs of apartments versus campus housing.
For example, monthly dorm rent is $900 per month, while the average rent in an apartment is $550.
Remember, you do not have to pay rent alone.
Usually, you will end up having roommates.
When figuring out your rent responsibilities, consider if you'll be splitting the rent with a roommate. -
Step 2: Factor in utility payments.
Rent is only one of many expenses to consider.
While rent may be cheaper, you want to make sure you look at all your options.
One advantage of dorm life is that many expenses are taken care of.
Things like internet, heat, water, and other utilities may be covered in the dorms but not off campus.Do any apartment pay utilities? If not, you will end up having to pay things like a water bill, a heating bill, and an electricity bill.
If you know anyone living off campus, ask them about how much they pay for utilities.
You will also have to contact an internet or cable company to set up your internet.
See how much internet and cable cost per month through local providers.
Add how much you'll be paying for utilities to your monthly rent.
For example, say you'll pay about $80 a month in things like water and gas and $40 a month for internet.
Remember, the hypothetical average rent is $550.
Now, the cost of living per month is $670 off campus versus $900 on campus. , Groceries are probably the biggest extra expense when it comes to living off campus.
You will no longer have a meal plan provided by your college, so you'll have to prepare your own food.Think about how much you will reasonably spend on groceries.
Will you spend about $60 a week? Add this to your running total for off campus expenses.
Now, you're looking at around $910 a month.
Keep in mind, you may be able to stay on your campus's meal plan for a fee.
If you don't like cooking for yourself, see how much a meal plan costs per month. , In addition the perk of utilities being covered, does your dorm offer free amenities? For example, maybe your dorm has a gym in the building.
Are there any on campus amenities only open to students who live in the dorm?If you don't use a lot of your dorm or university's amenities, this may not be a big deal for you.
However, say you go to the gym every day.
Losing your gym pass could cause problems.
Check to see how you would go about replacing any amenities you lose.
For example, look into gym memberships.
Is there anything in your price range? Maybe you find something for $40 a month.
Add that to the $910 total of rent and utilities.
The cost off campus is now roughly $950. , If your dorm is hypothetically $900 a month, it's slightly cheaper to live in the dorm in this scenario.
However, this may not necessarily be the case given the factors in your area.
Remember, cost is only one factor to consider.
The impact on your social life and academic responsibility should also be taken into account. -
Step 3: Look into the cost of food.
-
Step 4: Think about free amenities.
-
Step 5: Compare the final costs.
Detailed Guide
When you begin to consider your finances, see if there's a major difference in rent costs between an apartment and the dorm.
Oftentimes, the cost of rent alone is cheaper off campus.
The monthly rent for a dorm may be quite high.
If you do not currently have an apartment lined up, you can browse listings online to try and get a general sense of what the price range tends to be in the area.
You should be able to find out how much a dorm costs on your university's website.
Write down a rough range of costs of apartments versus campus housing.
For example, monthly dorm rent is $900 per month, while the average rent in an apartment is $550.
Remember, you do not have to pay rent alone.
Usually, you will end up having roommates.
When figuring out your rent responsibilities, consider if you'll be splitting the rent with a roommate.
Rent is only one of many expenses to consider.
While rent may be cheaper, you want to make sure you look at all your options.
One advantage of dorm life is that many expenses are taken care of.
Things like internet, heat, water, and other utilities may be covered in the dorms but not off campus.Do any apartment pay utilities? If not, you will end up having to pay things like a water bill, a heating bill, and an electricity bill.
If you know anyone living off campus, ask them about how much they pay for utilities.
You will also have to contact an internet or cable company to set up your internet.
See how much internet and cable cost per month through local providers.
Add how much you'll be paying for utilities to your monthly rent.
For example, say you'll pay about $80 a month in things like water and gas and $40 a month for internet.
Remember, the hypothetical average rent is $550.
Now, the cost of living per month is $670 off campus versus $900 on campus. , Groceries are probably the biggest extra expense when it comes to living off campus.
You will no longer have a meal plan provided by your college, so you'll have to prepare your own food.Think about how much you will reasonably spend on groceries.
Will you spend about $60 a week? Add this to your running total for off campus expenses.
Now, you're looking at around $910 a month.
Keep in mind, you may be able to stay on your campus's meal plan for a fee.
If you don't like cooking for yourself, see how much a meal plan costs per month. , In addition the perk of utilities being covered, does your dorm offer free amenities? For example, maybe your dorm has a gym in the building.
Are there any on campus amenities only open to students who live in the dorm?If you don't use a lot of your dorm or university's amenities, this may not be a big deal for you.
However, say you go to the gym every day.
Losing your gym pass could cause problems.
Check to see how you would go about replacing any amenities you lose.
For example, look into gym memberships.
Is there anything in your price range? Maybe you find something for $40 a month.
Add that to the $910 total of rent and utilities.
The cost off campus is now roughly $950. , If your dorm is hypothetically $900 a month, it's slightly cheaper to live in the dorm in this scenario.
However, this may not necessarily be the case given the factors in your area.
Remember, cost is only one factor to consider.
The impact on your social life and academic responsibility should also be taken into account.
About the Author
Amy Knight
Writer and educator with a focus on practical organization knowledge.
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