Challenges for Students, Despite the Positive Outlook of the Real Estate Market in Wichita

In addition to all the expenses involved in pursuing a college degree, families and students have to face the high costs associated with living near universities, where housing expenses often exceed educational costs.

In interviews with thousands of students, they all agree that student housing is extremely expensive if it is close to university campuses, and those that are not are located in dangerous areas or far from the university. This is a clear example of the challenges that students in the city of Wichita, Kansas, also have to face.

And although the real estate market in the city of Wichita is generally stable, and it is even predicted that it could return to the conditions observed before the financial crisis of 2008, students currently face difficulties accessing housing due to high prices or the conditions of properties that are exclusively designated for them.

However, the current dynamism of the real estate market in Wichita could improve conditions and prices so that these students can access rental apartments more affordably. According to experts, if the market continues as it is, it is expected to remain a fair environment between buyers and sellers, which could alleviate rental costs.

Furthermore, if the trend in the real estate market continues this way, and if mortgage rates decrease as many project, students could even consider buying their own home for the first time and exit the rental system, which has so much price fluctuation.

If the decision is to buy a property in Wichita, market analysts suggest that students or anyone wishing to invest in the city’s real estate market should explore the possibility of an adjustable-rate mortgage to obtain reduced interest rates, which would be a great opportunity considering that in previous times, rates were not as low as they are now.

Foreclosure Statistics:

Wichita: 150 foreclosures.

By Elías DaSilva | 03 de diciembre de 2024