Investing in Student Housing

In Greenville, NC, the average annual mortgage payment stands at $21,300, accumulating to a total of $85,200 over four years. While this figure surpasses the four-year expense of room and board for a student at ECU, it’s important to consider the long-term benefits of owning a home in this context. Rent charges around $600 to $800 per room, meaning you are likely to have the majority of your mortgage paid for by roommates. For out-of-state students, you can establish residency for in-state tuition, saving approximately $16,000 annually. After four years, not only would a graduate potentially have stable housing ready for their transition into the local job market, but they would also have the opportunity to sell the property, potentially at a profit, given the real estate market’s tendency to appreciate over time.

Assuming students graduate within the expected timeframe, the total cost for a mortgage over four years is anticipated to be around $85,200 or $42,600 for those spending just two years.