situation. This option would simply add to the deferred maintenance backlog to be addressed by future administrations, trustees and students.
Local Market Comparisons Housing
The housing market in Ellensburg is currently fairly tight. Modest growth in CWU enrollment and the relative affordability compared to the Puget Sound area is drawing residents to the community. The private market is responding with an increase in single-family homes; the development of a very large apartment complex northeast of campus is helping take the pressure off the local housing market. Three-fourths of the 4,000 beds on campus are in residence halls, which require a meal plan and are generally occupied by first- and second-year students. Residence halls are staffed with resident advisors and other support staff to ensure a superior overall student experience; intentional programming keeps students engaged in student and academic life. There are no easy comparisons in the Ellensburg marketplace. There are a range of comparisons to on-campus apartments, which have the advantage of location, and generally offer furnished, utility-inclusive, month-to-month leases to students. These advantages are somewhat tempered by the general age and condition of the facilities, and while there is strong demand for on-campus apartments, there are vacant spaces. Apartments are at 90 percent occupancy in February 2020. Each spring quarter we receive information from the City of Ellensburg related to off-campus housing rates to ensure we are maintaining price relevance within the market. This past fall quarter, we determined through an annual assessment that there was availability in most apartment complexes in town and multiple homes still for rent. Current on-campus apartment rates range from $657-$1200 per month. Because we have a variety of types of units, there are price points that are attractive to most students. Our most popular units include three- bedroom and one-bedroom units. Our one-bedroom rates are at the middle of the market for cost at $789. Lease rates for new apartments in the community vary from $1030-$1545 per month. Our most expensive three bedroom units cost $1200 per month. We typically do not allow more than three people in our units. Below is a comparison of our apartment complexes compared to several local options.
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