Apartment companies like SkyVue , DTN, and Hannah Lofts just to name a few are dominating the millennial housing market in the area. More, more apartments brings competition for one prize … residents.
Michigan State senior Steve Cleaves has lived in various apartments in the area since his sophomore year of college. “When I was looking for apartments I mainly looked for amenities. I wasn’t too concerned with the price, as long as it wasn’t too expensive,” Cleaves says.
Many of the most luxurious and closest apartments come with luxurious prices.
“I understand you get what you pay for from my first time moving to Chandler Crossings apartment. It was too far from campus for me, making late as well miss classes,” Cleaves said.
“I then moved to Cedar Village which I had to spend more, I was much closer to campus which made it worth it to me. Now before moving to my current apartment in 1855, I didn’t pay too much to the other flashy apartments because I am just focused on cost, location, and then amenities. A pool and game room is nice, but not a necessity,” says Cleaves.
Other students who try to stay frugal, like senior Ahjanai Hudsons, who stay in Chandler Crossings, focus on price.
“The new apartments are cool, but price is my main concern,” says Hudson. The cost of living on as well at least near campus can be challenging.
MSU’s assistant director of the office of financial aid Angelene Patton agrees that cost should be a main factor when looking through options.
“Some students fall in the trap of living above their means, just to live a certain lifestyle. Paying for amenities they really don’t need. Those students then, end up coming to our offices needing more aid, when they just need to be smarter in investing in choosing apartments,” Patton says.
“In regards to these new and expensive apartments spaces having enough tenants to pay, do seem like a challenge they may end up facing. A good amount of international students are the ones that usually live there, having the income to pay, but we are seeing a decrease on international enrollment this year. Although, it may result in forcing them to become more affordable. If they are not getting a lot of people to sign up, then they are forced to lower their price to attract potential leasers,” says Patton.
The majority of other students find alternatives housing options such as student co-ops, and cheaper apartments farther off campus. Students who are trying save money are willing to sacrifice luxury/convenience for price. The real question is the price worth the cost?