Assessing the UW-Madison Student Housing Market: Student Preferences and Affordability
File(s)
Date
2020-12-14Author
Sellman, Hailey
Lennie, Dylan
Mills, Tristan
Metadata
Show full item recordAbstract
This paper details the growing challenges of affordable housing for the undergraduate population at the University of Wisconsin-Madison. This study seeks to observe how luxury high rise development both in theory and practice affect market rents and the overall student housing market. A mix of GIS spatial analysis, student survey responses, and property data from the CoStar database is used to determine how students make their housing decisions and whether a hypothesized rent gradient (with campus as the epicenter) exists. Our findings conclude that for housing located within 2.5 miles of the center of the UW-Madison campus, (1) a correlation between price and distance from campus is only relevant in 4-bedroom apartments, but still only held an R2 value of 0.1965 (location accounted for 19.65% of the influence on monthly rent), (2) market rents far exceed the price that students are willing to pay, and that students must make sacrifices in preferred accommodations in order to make housing affordable, and (3) while distance from campus did not have an overall effect on rent pricing of housing, close proximity to other luxury buildings does.
Subject
Student Housing
Housing Market
University of Wisconsin - Madison
Affordable Housing
Luxury high rises
Permanent Link
http://digital.library.wisc.edu/1793/81089Description
Includes Diagrams, Survey Results, Tables, Figures, Graphs, Maps, Charts, Aerial images and Bibliography.