Paying rent on a student budget

The shutdown of Oak Place Apartments is leaving many students looking for a home. With an average rent of $905 in Kansas City, budgeting might not be enough for some.

While the cost of on-campus housing is comparable to renting in Kansas City, scholarships help reduce the out-of-pocket cost for students living on campus. Many students are able to afford on-campus housing solely through their scholarships and work-study programs.

Without those, a student working 40 hours a week earning Missouri’s minimum wage of $7.70 an hour, simply cannot afford an apartment in Kansas City.

Given that the average students makes $1,232 per month, they would fall into the 15 percent tax bracket. This would lead the student to make approximately $1,130 per month.

Ideally, rent or mortgage payments should be 20 percent of your monthly income. Following this, a student working full-time, earning minimum wage can afford around $200 per month.

RENTCafé breaks down the average apartment costs in Kansas City. The average cost of rent is $905 throughout the city. In the South Plaza neighborhood, near UMKC, the average rent is $1,283, more than the full-time, minimum wage workweek.

With UMKC short one residential building, many are left looking for a place to live, compromising between affordability, safety and a longer commute.

Access RENTCafé’s data on Kansas City rent at https://www.rentcafe.com/average-rent-market-trends/us/mo/kansas-city/.

egw352@mail.umkc.edu

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