“When you think of an average family thinking of where to send their son or daughter, that rent-plus-food piece is getting to be a bigger chunk,” said Jay Hartzell, president of UT Austin.
Though students and their families often focus on tuition, the cost of housing is going up much faster. Annual increases in college and university tuition have been shrinking, new research from the Federal Reserve Bank of Richmond finds. Tuition actually fell, when adjusted for inflation, between 2020 and 2023, the most recent year for which the figure is available, according to the National Center for Education Statistics.
But the cost of room and board rose by 14 percent more than inflation between 2010 and 2020, the College Board reports. At public universities, in-state students now pay more for room and board than for tuition.
