How do you pay for student accommodation

There are lots of considerations that go into finding somewhere to live while at university. You need to think about location, possible housemates, the type of accommodation you want, the facilities you need…the list goes on. 

While there are lots of important things to consider, price should be a priority when finding a student property. Rental costs for student accommodation costs are on the rise, and it can be challenging for students to budget effectively. 

If you’re wondering ‘how do you pay for student accommodation?’, we’re here to help. We’re unpacking everything you need to know about how to pay for student accommodation, including average prices, rent schedules, utility bills, and budgeting tips. 

How much is student accommodation

The price of student accommodation will vary depending on the type of housing you choose and the city you live in. According to StuRents’ data, the average cost of a shared student house (or HMO) in the UK is £132 per person, per week (pppw). The average cost of purpose built student accommodation (PBSA) is £187 pppw. Shared houses tend to be a cheaper option and are a popular option with many students after first year. PBSA is typically more expensive but, depending on the accommodation you choose, you may benefit from onsite facilities such as study rooms, games rooms, cinemas, and gyms. 

Bear in mind that these average prices exclude the London market, as renting in London tends to be much more expensive. If you’re a student in London, you should carefully consider whether you can afford to rent privately and budget accordingly. 

Does the student loan cover accommodation

You can get a student loan to cover the cost of your university tuition. You can also get a separate loan, known as a maintenance loan, to cover your cost of living. Your accommodation will need to be included in your cost of living. 

How much is the maintenance loan?

For the 2024/25 academic year, your maintenance loan can be up to £8,610 if you're living at home. If you’re living away from home, outside of London, you can receive up to £10,227 and if you’re living away from home in London, you can receive up to £13,348.

The exact level of maintenance loan you're entitled to is determined by a combination of factors, including where you plan to study, whether you’re under 25, your own income, and your parents’ income. 

You might find that your maintenance loan isn’t enough to cover your cost of living and your rent. You might have to supplement your income in other ways if this is the case. 

How many weeks do you pay for student accommodation?

Student tenancy agreements typically last for twelve months, but some accommodation providers also offer them just for the duration of the academic year. 48-week tenancies are more commonly offered by purpose built student accommodation providers, while shared houses are usually available for a 51-week tenancy. 

Typically, tenants pay rent monthly. However, many student property managers adjust their rent schedules so students can pay rent in line with their maintenance loan instalments. You should check the terms of your tenancy agreement to find out your specific rent schedule. 

Do you pay council tax in student accommodation?

Students are exempt from paying council tax. If you and all your housemates are full-time students then you don’t have to pay any council tax. If one of your housemates is not a student, then they will be responsible for paying council tax for the whole property.

If you only live with other students, someone needs to inform your local council and apply for a council tax exemption. Sometimes this will be done for you by your landlord or property manager, or you can fill in an exemption form yourself on your local council’s website. 

You will be responsible for paying for your other utilities even though you don’t have to pay council tax. This includes gas, electricity, water, and Wi-Fi. You’ll also need a TV licence if you want to watch live television or BBC iPlayer. 

Sometimes student accommodation will be offered with bills included. This means that your property manager will organise the setup and payment of bills each month, and you will just pay a slightly higher rental price each month that includes the cost of your bills. Alternatively, you can set up your own utility bills which tends to be a slightly cheaper option. It’s completely up to you.

How to budget as a student 

Money can be a huge source of stress for students. Your maintenance loan might feel like a lot of money when you first receive it, but you might soon realise that it doesn’t go as far as you think. Learning how to budget as a student is essential, particularly as student accommodation prices are rising. 

We unpack four top budgeting tips to help you get started.

Get a part-time job

Part-time jobs are a great way to supplement your income. It can be challenging to balance full-time study with full-time work, but you might be able to find a part-time job that you can fit around your schedule. Bars, pubs, restaurants, and cafes tend to offer shift work to students, or you could consider working in retail. If this sounds like too much commitment, you could consider a more ad-hoc gig like babysitting or dog walking to earn a bit of extra cash.

Create a budget tracker for expenses

It might sound boring but it’s important to keep track of what you’re spending. Using a budget tracker can help you keep on top of your expenses. You’ll be able to see how much money you have to spend each week, how much is being spent on essential outgoings, and uncover areas where you might be able to cut back.

Look out for student discounts 

Lots of hospitality and retail venues offer discounts to students. You can look online to find the best deals in your area, and plan fun activities with friends that don’t break the bank. You can also get an NUS Totum card and search sites like Unidays to find even more discounts.

Get a student travel card

Depending on the city you live in, you might be able to get a discount on local public transport just because you’re a student. Do some research and see if you’ll be eligible for student tickets on buses or if you can apply for a student travel card. You can also get a 16-25 railcard which will save you a third on all your rail fares. 

If your expenses get on top of you and you find yourself struggling with debt, you can find useful tips and resources in our student guide to debt. 

Find affordable student accommodation on StuRents

StuRents is the UK’s leading student accommodation search platform with over 750,000 rooms listed every year. You can filter your property searches by location, price, and any other important priorities to find your perfect, affordable student accommodation. 

Start your search on StuRents today.