neighborhood development

I signed a new housing lease about a month ago in mid-October – a lease that won’t start until June of next year. This is how competitive student off-campus housing is in Chapel Hill, and the ever-high demand for student housing in Chapel Hill continues to negatively affect non-student renters. 

Niche.com estimates that 90 percent of houses near campus fill up by October. From my experience, students looking to rent an affordable house (as opposed to a townhouse or apartment) begin the search as early as September. Every year this fight to find the closest, nicest and most affordable home puts additional stress on UNC students, and our desperation to sign a lease as soon as possible pits students against each other, increasing competition and driving prices up.

According to a 2010 report prepared by Development Concepts Inc., students make up about a third of all rented units in Chapel Hill (and rented housing comprises over half of all housing in Chapel Hill). We are a huge market for property owners and developers – on-campus housing can only accommodate 9,700 students, so the remaining 9,000 or so undergrads must find off-campus places.