University of Illinois needs more housing to resolve crisis

The University of Illinois is facing a housing crisis that is causing financial strain on its students. Many students are taking on high amounts of debt to afford living expenses, which are among the highest in the Midwest. Currently, the average Gen Z student borrower has around $25,000 in student loans. Many students, including those receiving scholarships, still struggle with costs because housing prices are so high. At the University of Illinois Urbana-Champaign, freshman dorm costs are nearly $15,000 per year, and off-campus rents range from $450 to $2,000 each month. This rising cost of living impacts all students. Last year, the university had more admitted students than available housing. As a result, some residential advisers had to share rooms with students, and many were forced to find off-campus housing. This situation is making it harder for students to find suitable places to live. To address this crisis, experts suggest that the university needs to build more housing quickly. Champaign-Urbana has seen rising demand for housing, leading to increased rents. Since 2023, property prices in Champaign have risen over 15%, reaching a median of about $235,589. One proposed solution is to reform housing policies. While Champaign-Urbana leads in new housing units, the number of housing permits has declined in recent years. Introducing self-certification for builders could speed up the approval process for projects. Similar programs in Chicago have reduced permit waiting times significantly. Additionally, the area could benefit from changing zoning laws to allow for taller buildings and mixed-use areas. This would create more housing options and potentially lower costs, especially for low-income students. Local lawmakers now have the opportunity to make these changes to help alleviate the housing burden for students and ensure that the University of Illinois remains an attractive place to study.