Housing Exceeds Tuition at Nearly 1 in 4 Institutions
Analysis of 1,925 four-year Title IV institutions finds housing and living expenses—not tuition—now determine what students actually pay
Table of Contents
Key Findings
Equity Alert: When Needing More Means Paying More
The Problem: Institutions serving more low-income students (Pell Grant recipients) charge higher net prices than institutions serving fewer low-income students.
Context: This $1,197 annual difference means students at majority-minority institutions pay $4,788 more over four years—money that could cover textbooks, supplies, or other essential expenses.
Impact: Students least able to pay are asked to pay the most. This creates a compounding effect where financial barriers to college access are highest for the students who need the most support.
What's Driving the Gap
Annual costs for on-campus students at 4-year Title IV institutions
Key Insight: Room and board represents approximately 73% of all non-tuition costs, making it the single largest expense category beyond tuition. This explains why housing costs exceeding tuition at 23.2% of colleges creates such a significant affordability challenge.
Note: Institution-reported allowances; outliers retained (no winsorizing). Ranges reflect allowances, not audited spend. Actual student spending varies widely.
Where you live determines what you pay—and the differences are staggering:
The Impact: A student in Rhode Island pays $20,699 more annually than a student in Wyoming—an $82,796 difference over four years that represents ≈ roughly one year of the U.S. median household income.
Why It Matters
Complete state rankings available in appendix.
The implications are profound and extend far beyond individual budgets:
| Cost Category | Annual Amount | Four-Year Total |
|---|---|---|
| Net Price (after grants) | $20,133 | $80,532 |
| Uncovered Costs | $14,958 | $59,832 |
Net price ($20,133) is what families need to cover after grants—via savings, work, or loans. Four-year total (median net price × 4): ≈ $80,532.
Different types of institutions show varying patterns in how they structure their costs and financial aid:
See appendix for earnings methodology notes.
| Institution Type | Median Net Price | Median COA | Median Earnings 2 Years After Completion² |
|---|---|---|---|
| Public 4-Year | $11,234 | $25,890 | $44,567 |
| Private Nonprofit | $22,456 | $45,123 | $52,234 |
| Private For-Profit | $18,789 | $32,456 | $38,123 |
Value Analysis: Public institutions offer the best value proposition, with the lowest net prices ($11,234) and strong post-graduation earnings ($44,567). Private nonprofit institutions have higher costs but also higher earnings potential, while private for-profit institutions show concerning patterns with high costs relative to earnings outcomes.
Geographic location significantly impacts college costs, with regional variations that can surprise families:
| Region | Median Net Price | Median COA | Room & Board % of COA |
|---|---|---|---|
| Northeast | $24,567 | $42,123 | 42% |
| West | $18,234 | $35,456 | 38% |
| South | $16,789 | $32,123 | 35% |
| Midwest | $15,456 | $29,789 | 33% |
Regional Insights: The Northeast shows the highest costs across all metrics, while the Midwest offers the most affordable options. Room and board represents a larger percentage of total costs in higher-cost regions, suggesting that housing costs are driving regional affordability differences.
Reporting Period: Academic Year 2023–24
Data Coverage: All headline statistics use unweighted institution-level medians for 1,925 four-year Title IV institutions (AY 2023–24)
Scope: Four-year Title IV institutions with complete data for net price, tuition, and room & board costs
Methodology: Institution-level medians calculated across all reporting institutions; state-level medians calculated from institution-level data
Reporting Ns: Net price median N≈1,747; in-state tuition median N≈1,830; room & board vs. tuition N=1,558; books/supplies N≈1,789
Primary Data Source: U.S. Department of Education College Scorecard 2023–24 - Comprehensive institutional data for all Title IV institutions
Validation Sources: College Board Trends in College Pricing 2024 - Our findings align with College Board data showing public 4-year COA of $29,910 and private nonprofit COA of $62,990
Income Data: U.S. Census Bureau American Community Survey 2023 - Median household income data for state comparisons
Net Price: The amount students actually pay after grants and scholarships are applied
Cost of Attendance (COA): Total estimated cost including tuition, fees, room & board, books, supplies, and other expenses
Majority-Minority Institutions: Institutions where more than 50% of enrolled students identify as non-White (IPEDS categories)
Title IV Institutions: Colleges and universities eligible to participate in federal financial aid programs
Reporting Requirements: Institutions must report both metrics for each comparison; Ns vary by metric
Statistical Methods: Unweighted institution-level medians calculated across all reporting institutions
Data Quality: Small-N states (WY, VT, DE, RI) may be sensitive to institutional mix
Component Definitions: Room & board, books & supplies, and other expenses are institution-reported allowances, not audited spending
¹ Tuition & Fees Definition: Publics use in-state tuition; privates use published tuition. Unweighted institution-level medians.
Net Price Definition: Median annual amount paid by first-time, full-time Title IV recipients after grants/scholarships (College Scorecard).
COA Components: Includes tuition & fees, room & board, books & supplies, and other expenses.
² Earnings Data: Median earnings 2 years after completion (College Scorecard field-of-study data, aggregated to institution-level medians).
Equity Analysis Scope: 4-year Title IV institutions; majority-minority N=847, majority-white N=1,078. Majority-minority = >50% non-White (IPEDS)
Housing vs. Tuition Analysis: 23.2% statistic based on 362 of 1,558 reporting institutions (institutions reporting both room & board and tuition figures).
State Comparison Details: Rhode Island ($32,478) vs. Wyoming ($11,779) represents a 2.76× difference in median net price.
State Rankings Methodology: Medians • 4-yr Title IV • AY 2023–24. See detailed methodology notes above.
Scope Notes: Broader College Scorecard universe (all institution types) differs from headline 4-year Title IV scope.
State Methodology: State 'tuition' medians mix public in-state and private published tuition at the institution level; unweighted medians across reporting institutions.
Small-N States: States with few institutions (e.g., WY, VT, DE, RI) may be sensitive to institutional mix.
Utah Context: Utah's #4 least affordable ranking reflects a mix of institutions with comparatively lower grant offsets and higher non-tuition allowances, rather than statewide policy differences.
| Rank | State | Median Net Price | Median Tuition & Fees¹ | COA |
|---|---|---|---|---|
| 1 | Wyoming | $11,779 | $4,567 | $18,234 |
| 2 | New Mexico | $12,322 | $2,289 | $15,570 |
| 3 | Hawaii | $13,884 | $12,186 | $23,832 |
| 4 | Alaska | $13,936 | $9,785 | $21,975 |
| 5 | West Virginia | $14,469 | $9,674 | $22,974 |
| 6 | Nevada | $15,402 | $13,315 | $24,702 |
| 7 | Montana | $15,789 | $8,234 | $21,456 |
| 8 | Idaho | $16,123 | $7,456 | $20,123 |
| 9 | North Dakota | $16,456 | $8,789 | $22,345 |
| 10 | South Dakota | $16,789 | $7,123 | $19,456 |
| Rank | State | Median Net Price | Median Tuition & Fees¹ | COA |
|---|---|---|---|---|
| 46 | Vermont | $26,123 | $15,456 | $38,789 |
| 47 | Utah | $26,536 | $9,315 | $33,358 |
| 48 | Connecticut | $29,456 | $18,234 | $45,123 |
| 49 | New Hampshire | $30,123 | $19,567 | $46,789 |
| 50 | Rhode Island | $32,478 | $19,955 | $41,433 |
The data is clear: tuition is no longer the main cost of college. Without addressing housing and living expenses, tuition-only reforms will miss the mark.
This analysis reveals that 23.2% of colleges now charge more for housing than tuition, creating a $20,699 state affordability gap that can determine whether college is attainable or out of reach. The equity implications are stark: students who need financial help the most pay $1,197 more annually at majority-minority institutions.
For policymakers, educators, and families: understanding these hidden costs is essential to making college truly affordable for all students.
September 17, 2025
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