- Rents in college areas (neighborhoods with 20% or more college students) were down 0.5% year-over-year in August, but were up 2.6% year-over-year in non-college areas.
- The gap between rents in college areas and non-college areas is as wide as it has been since at least 2017.
- Two million more young Americans were living with parents or grandparents in August compared to last year.
Rent prices in college neighborhoods have fallen this summer as colleges and universities across the country have opted for remote learning during the coronavirus pandemic. The drop in college areas stands out even in a rental market that has softened since February, with rent price growth slowing and landlords offering more concessions.
Average rent prices were growing 4.7% year over year in February in college areas, according to a Zillow analysis of 100 U.S. ZIP codes in which college students make up at least 20% of