My firm, Atlas Real Estate Advisors, has recently been working on a market study to determine rental rates for student-oriented real estate in Athens, GA.
I remember just 10 years ago when I was a student, $250/bedroom would go a long way towards a reasonable rental unit, but times have changed. Based on what we discovered in our market study, the range is now $250-750 per bedroom, with variations caused by numerous factors. Obviously, location is important, along with quality, age, amenities, etc. Another trend is that cottage-style detached rentals have stolen market share from the more traditional apartment mega-plexes. And, the fewer # of bedrooms a unit has causes the price per br to go up ... a 1-bedroom might be $750/mo in the same complex as a 2-bedroom for $500/mo per bedroom.
Newer properties such as The Summit, The Lodge, The Retreat, The Verandas, etc average out in the high $400's per bedroom, while some of the older units (the ones that were popular when I was in college) like Woodsong, Whistlebury, River Club, Polo Club, etc are now in the $300's per bedroom on average.
If you'd like more detailed information on the report we've compiled, please email or call me anytime to discuss.
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