Tiny dorms, communal bathrooms, and economy furniture just aren’t cutting it anymore! Students around the country (and particularly upperclassmen) are increasingly choosing higher-end off-campus apartments over campus housing, leading to an excellent opportunity for investors and developers.
Axiometrics, an apartment research company, anticipates rental growth in this market to remain strong over the next five years according to an article published by CNN. This is especially relevant as college enrollment increases nationwide, and universities struggle to provide student housing.
While we aren’t yet seeing luxury student housing with vaulted foyers, walk-in closets, and granite kitchen islands, many young adults prefer amenities like stainless steel appliances, en-suite bathrooms and parking spaces.
Neighborhoods surrounding West Chester, Drexel, Temple, Penn, Ursinus and Swarthmore are currently hotspots for local investors. Interested in gaining more information about renovating a fixer-upper in these popular towns? Give us a call at (215) 699-5555 to be introduced to an experienced real estate agent.