My D has been accepted to UMich, and we are trying to estimate costs over 4 years. Do most students move off campus after freshmen year? What is a reasonable amount of rent we should expect in Ann Arbor once she is off campus? Money is a big concern, so all housing would have to be with roommates. My assumption has been that living off-campus is cheaper than the room/board of living on campus.
If you rent an apartment and share with several students, it would definitely be cheaper than R&B. The current R&B is $10-$12k and it will be likely near $11-$13k next year. Unlimited meal plan has been included in the R&B since last year though. For 2 person renting a 2 bedroom apartment, it is not likely to be much cheaper than R&B particularly considering the additional food cost and the rent for summer months. So you may need to go for a one bedroom for 2 person. My D is looking for a 2 bedroom apartment for next year to be shared among 4 students. There are cheaper apartment if you consider going a bit away from campus and take AATA everyday.
Yes, most move off campus after Freshman year. As for rent, that can range quite a bit. If you want to be as frugal as possible, you could probably do $250/month for rent+utilities, but that’s about as cheap as possible. And then it can go all the way up to $1400 or so. If you’re talking about 2 people in a 2 bedroom or 3 in a 3 bedroom in an older place, you might estimate about $550/month rent or so.
Leases will typically be year round. For subletting during the summer months, expect to be able to get half of your rent for it. So basically, plan on paying 10 months rent for the year if you live there for 8 months.
For another point of reference - D stayed in the dorms first 2 years then moved off campus. Currently paying $470 month for 2 people 1 bedroom next to East Quad. I know moving further out would have been cheaper but D decided it was worth a little extra to be right next to campus and not having to walk home late at night through neighborhoods. Now if they could just get it subleased for this summer after graduation - I don’t think I’ve ever seen anything there that wasn’t a 12 month lease.