Introduction At the October 2019 meeting of the Board of Trustees, trustees asked staff to take a deeper look at the need to raise housing and dining rates above inflation every year. Specifically, trustees asked, “Is it sustainable to increase rates 5 percent every year for the next 20 years?” That would effectively double housing and dining rates (ignoring inflation) over 20 years. Trustees wanted to know, “Is it possible that students can absorb that kind of increase, and won’t we outpace the local housing market?” The intent of this report is primarily to provide enough information for the Board to make annual rate- increase decisions armed with current and historical context, as well as potential alternatives to rate increases. This report is organized by the following topics:
Topic Page # Historical Perspective……………………………………………………………….…………………...3 Long Term Housing & Dining Master Plan………………………………….…………………..4 Potential Alternatives to Rate Increases……………………………….………………………..8 Local Market Comparisons…………………………………………………………….………..…....9 Satisfaction Benchmarking……………………………………………………………...…………..12 Trends for Student Housing…………………………………………………………….…………...13 Summary……………………………………………………………………………….……………….......14
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