Students comprise a significant portion of those seeking an apartment to rent in town. Many apartments are still operated by their owners, although it has become more common for a managing company to take care of finding tenants and performing maintenance.
Jeff Connell, director of Manhattan residential listings for McCullough Development, said more than 50 percent of his company’s clients are students. The vast majority of the property that the company manages is close to the K-State campus and is targeted primarily to students.
The demand for one-bedroom apartments and studios outpaces supply, as there is a trend for people wanting to live by themselves.
“The one-bedrooms there are in tight demand,” Connell said.
According to Connell, about 46 percent of student apartments this year were occupied by continuing residents, which means only around half of their apartments was available for new clients. He said the best time to start researching apartments for the next school year is in the winter. He said McCullough Development managers begin leasing for the June and August time frames on Feb. 15.
“I just recommend starting the search early,” Connell said. “For people not familiar with this market or if they are coming from other cities, it’s eye-opening how much housing is in demand here.”
As with most apartments in town, McCullough offers unfurnished housing. The price varies and depends on the location, the number of bedrooms and condition of the apartment. Studio apartments start at around $500 and go up to $600. One-bedrooms will cost from $550 to $1,000, the average being roughly $650 and $700.
Two-bedrooms usually cost around $700.
The high demand on housing produced by the college and the military base has caused prices to be above the average in Kansas.
“Some people are surprised by the prices too,” Connell said. “The military presence here certainly has emphasized demand.”
There are several issues residents should keep in mind when choosing to live in an apartment. First is the location. There are many apartments available for rent around Aggieville. Residents who choose to live in Aggieville shouldn’t expect extremely quite nights during the weekend.
Another thing that people often forget is that apartments are multi-family housing.
“There are neighbors that you share walls with, you share ceilings with,” Connell said. “There potentially will be noise transfer between apartments.”