Harvard University Housing Announces 2024-2025 Rent Increases And New Rates

Harvard University Housing Announces 2024-2025 Rent Increases And New Rates

Discover the 2024-2025 rent increases and new rates for Harvard University Housing. Find out the diverse options and rental costs for new and current tenants.

Siksha MUpdated: Sunday, January 28, 2024, 08:49 PM IST
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Harvard University Housing | Image Credit - Harvard University

US: In a recent announcement, Harvard University Housing (HUH) has revealed the rent plans for the academic year 2024-25.

Harvard University Housing oversees around 3,000 apartments, providing diverse options in terms of location, unit types, amenities, and sizes to accommodate the specific housing requirements and financial constraints of eligible Harvard affiliates, such as full-time graduate students, faculty members, and employees, according to Harvard Gazette.

Know The Rental Rates For New HUH Tenants

According to the information sourced from Harvard Gazette, the housing rental cost for the new tenants at HUH at 10 Akron Street will reportedly be $2,208–$2,544 and one-bedroom convertibles for $2,796–$3,120.

Likely, for at 18 Banks Street, you can find one bedroom for $2,664–$3,024 and two bedrooms for $3,228–$3,384.

Furthermore, 27 Everett Street has one bedrooms for $2,976–$3,096 and three bedrooms for $4,008–$4,668.

Botanic Gardens offers one bedroom for $2,700–$2,844, two bedrooms for $3,192–$3,336, and three bedrooms for $3,696–$3,924.

Harvard @ Trilogy offers a suite for $1,848- $2,076, studios for $2,244–$2,460, one-bedroom convertibles for $2,880–$3,084, and two-bedroom efficiencies for $3,480–$3,720.

At 29 Garden Street, you can find studios for $2,052–$2,376, one-bedroom convertibles for $2,592–$2,628, two-bedroom efficiencies for $2,904–$3,420, two bedrooms for $3,264–$3,348, and three bedrooms for $4,500–$4,728.

Additionally, Beckwith Circle has three bedrooms for $3,024–$3,924 and four bedrooms for $3,420–$4,236.

15 Ware Street offers studios for $2,436, one bedrooms for $3,300, and two bedrooms for $3,840.

Haskins Hall has studios for $2,232–$2,316 and one bedroom for $2,484–$2,736. Holden Green offers one bedroom for $2,364–$2,712, two bedrooms for $2,712–$3,828, and three bedrooms for $3,552–$3,636.

At 472–474 Broadway, you can find one bedrooms for $2,604–$2,676.5 Cowperthwaite Street offers studios for $2,352–$2,736, one bedroom for $2,844–$2,856, one-bedroom convertibles for $2,796–$3,048, and two bedrooms for $3,264–$3,996.

One Western Avenue offers studios for $2,388–$2,664, one bedroom for $2,568–$3,000, two bedrooms for $3,012–$3,756, and three bedrooms for $4,344–$4,692.

Notably, Peabody Terrace offers studios for $2,184–$2,808, one bedroom for $2,640–$3,120, two bedrooms for $3,048–$3,636, and three bedrooms for $4,464–$4,860.

Shaler Lane offers one bedrooms for $2,400–$2,580 and two bedrooms for $2,736–$3,252.

At 2 Holyoke Street, you can find a one-bedroom for $2,688–$2,856.

Kirkland Court offers a one-bedroom for $2,388–$2,832, two bedrooms for $3,144–$3,384, and three bedrooms for $4,044–$4,332.

8A Mt. Auburn Street has a one-bedroom for $2,688–$2,856.

Wood Frame Buildings has studios for $1,632–$2,304, one bedroom for $2,352–$3,264, two bedrooms for $2,952–$4,524, three bedrooms for $3,300–$6,096, and four bedrooms for $5,088–$5,652.

Terry Terrace offers studios for $2,304–$2,388, one bedroom for $2,544–$2,832, and two bedrooms for $3,144–$3,180.

9–13A Ware Street has studios for $2,220–$2,352, one bedroom for $2,508–$2,820, and two bedrooms for $3,132–$3,156.

At 16 Prescott Street, you can find studios for $2,184–$2,328 and one bedroom for $2,520–$2,712.

18 Prescott Street offers studios for $2,124–$2,196 and one bedroom for $2,508–$2,760.

85–95 Prescott Street has studios for $2,244–$2,484, one bedrooms for $2,532–$2,952, and two bedrooms for $2,964.

Soldiers Field Park has studios for $2,616–$3,072, one bedrooms for $3,012–$3,444, two bedrooms for $3,684–$4,644, three bedrooms for $4,080–$5,364, and four bedrooms for $5,364-$5,520.

19 Ware Street has two bedrooms for $3,648–$3,696 and three bedrooms for $3,924.

Know The Rental Rates For Current HUH Tenants

Current tenants at HUH who opt to renew their lease can expect an average rent increase of 5.6%, with actual increases varying from 0% to 8%. Rent for Harvard University Housing apartments covers heat, hot water, electricity, and gas where applicable, and some units may also include internet service and air conditioning, as stated by the Harvard Gazette.

In March 2024, HUH tenants will receive an email with instructions on how to request a lease extension or termination. Those seeking more information or assistance in determining their 2024–2025 rental rates can contact the HUH Leasing Office at (617) 495-1459.

Furthermore, in accordance with the rental policy at the University, Harvard University Housing implements rents based on market rates. Jayendu Patel, of Economic, Financial & Statistical Consulting Services, conducted a regression analysis on market rents spanning three years for over 17,300 apartments to determine the proposed rents for 2024-2025.

Insights On The Data

The data used for the analysis included information on apartment rentals gathered from a variety of sources, including listings on the HUH Off-Campus Housing website by private property owners, data from a real estate appraisal firm, and various non-Harvard rental websites.

According to the Harvard Gazette, this action was taken to guarantee that similar rental options are available for rival apartment buildings in Cambridge, Boston, and Somerville. Any excess funds generated by Harvard University Housing, after covering expenses and repaying debts, will be used to enhance and update current residential properties.

The Faculty Advisory Committee on Harvard University Housing has endorsed the rental prices outlined in this report for the 2024-2025 rental season, as announced by Harvard Gazette.

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