Lawrence, KS · University of Kansas
Buy a Home for Your KU Student Instead of Paying Rent
Most KU students rent for four years and have nothing to show for it. With the right home near campus, those same monthly dollars build equity, and roommate rent can cover much of the payment. Bryan Hedges, a lifelong Lawrence broker, helps families make it happen.
The Four-Year Rent Math
A bedroom in a shared house near the University of Kansas commonly rents for $500 to $800 a month, and a private apartment can run well past $1,000. Over a four or five year degree, that is $40,000 to $70,000 per student, paid out and gone. For families with more than one KU student over the years, the total climbs even higher.
Buying changes the equation. Those monthly dollars go toward a mortgage you own instead of a landlord's. When your student rents the spare bedrooms to classmates, that roommate income often covers most of the payment, so your real out-of-pocket cost can be close to, or even less than, renting a single room somewhere else.
Ways Parents Help Their Student Buy
- ✓Buy it as an investment property. The parent owns the home, the student lives there and manages roommates, and the property can stay in the family as a rental long after graduation.
- ✓Co-own with your student. Parents and student share ownership, which can help the student start building credit and equity early.
- ✓Gift or loan the down payment. A down payment gift can put a purchase within reach while the student or a co-signer carries the loan.
- ✓Co-sign the financing. Co-signing helps a student with limited income qualify, while keeping the home in the student's name.
Bryan can talk through which structure fits your family and connect you with local lenders who regularly do student-occupied purchases in Lawrence.
Rent the Extra Rooms, Cover the Payment
The strategy works best with a three or four bedroom home near campus. Your student lives in one room and rents the others to classmates. In most near-campus neighborhoods, two or three roommates paying market rent cover the majority of a typical mortgage payment.
Bryan also operates Location Properties, a Lawrence property management company, so he can advise on realistic room rents, help with leases, and even manage the roommates and maintenance for you if you would rather not handle it from out of town.
After Graduation: Keep It or Sell It
When your student finishes at KU, you have choices. Because the University of Kansas brings a steady stream of renters every year, many families keep the home as an income property, and Bryan can manage it through Location Properties so it stays hands-off. Others sell and recover their equity plus any appreciation that built up over four or five years.
Since Bryan handles the buying, the management, and the eventual sale, you get one trusted local contact for the entire lifecycle, not three different companies.
Run Your Numbers With Bryan
Every purchase is different. Tell Bryan your budget, how long your student will be at KU, and whether you want a hands-off rental afterward, and he will pull real near-campus listings and walk you through what the monthly math actually looks like. A quick note about taxes: confirm deductions and structure with your tax advisor, Bryan makes sure the real estate side supports their advice.
Buying for a KU Student, Frequently Asked Questions
Does it make financial sense to buy instead of rent for a four-year degree?
It often does. Four years of rent near the University of Kansas can total $40,000 to $70,000 or more per student, money that builds someone else's equity. Buying a home near campus turns those monthly payments into ownership, and renting the extra bedrooms to roommates can cover much or all of the mortgage. Every situation is different, so Bryan can run the actual numbers for a specific property and your family's plans.
How can parents help their KU student buy a home?
There are several common paths: a parent can buy the home as an investment property with the student living there, parents and student can co-own, parents can gift or loan the down payment, or a parent can co-sign the loan so the student qualifies. Bryan works with families to figure out which structure fits, and can connect you with local lenders who understand student-occupied purchases.
Can the student rent rooms to roommates to offset the mortgage?
Yes, and this is the heart of the strategy. A three or four bedroom home near campus lets your student live in one room and rent the others to classmates. That roommate rent frequently covers most of the monthly payment, so your family is building equity while spending little more than you would on rent for one person. Bryan, who also operates Location Properties property management, can advise on what rooms rent for in each near-campus neighborhood.
What neighborhoods near KU are best for buying a student home?
The blocks immediately around the University of Kansas, including the Oread neighborhood and the streets between campus and downtown, are the most walkable and rent the easiest. Slightly farther out, southwest and west Lawrence offer newer homes at lower prices with a short drive or bus ride to campus. Bryan knows which streets hold value and which are easiest to re-rent year after year.
What happens to the home after graduation?
You have options. Many families keep the home as a rental, since KU's steady enrollment means consistent demand, and Bryan can manage it for you through Location Properties so it stays hands-off. Others sell after graduation and recover their equity plus any appreciation. Because Bryan handles buying, managing, and selling, he can guide the whole lifecycle with one point of contact.
Are there tax advantages to owning a student home?
Potentially. Owning rental or investment property can come with deductions for mortgage interest, property taxes, depreciation, and expenses, and roommate rent is income to account for. The right structure depends on your situation, so confirm specifics with your tax advisor. Bryan can make sure the real estate side, the purchase, the leases, and the management, is set up to support whatever your accountant recommends.