Oxford’s Soaring Rent Prices Ignite Local Concerns Amid Surge in Student and Non-Student Population

Rising Rent Prices Create Tensions in Oxford

The picturesque town of Oxford is facing a growing dilemma that has many residents feeling uneasy: ballooning rent prices. As of July 2024, a recent survey from Rent Cafe reveals that more than a third of apartments in Oxford now charge over $2,000 per month, with the average rent sitting at a hefty $1,834. This leaves most other apartments falling between $700 to $1,500, leaving many locals wondering where they fit in this rising cost of living.

Voices from the Community

For many residents like Mike Watkins, the stakes could not be higher. This Army veteran has shared his journey from homelessness to stability in Oxford, highlighting the challenges that newcomers face as housing costs increase. “When I moved to Oxford, I was helped out through a program that supports veterans. I went from being homeless to getting an apartment,” explains Watkins. “I love this town, but I’m worried that stories like mine are becoming more rare.” He attributes this shift largely to the influx of students at the nearby University of Mississippi, where enrollment has skyrocketed from about 11,405 in 2000 to over 24,000 today.

Watkins points out that students often have greater financial flexibility compared to local working families. “Between school loans, parents, and Pell Grants, students can generally pay more for rent, which pushes working-class families out of the market,” he says. With rent being a significant burden for students, he expresses concern about the rising costs putting pressure on locals.

Price Hikes and Frustration

Another voice in this conversation is Jacqueline Cissom, a long-time Oxford resident who has also felt the impact of the increasing rents. “I moved to Oxford eight years ago and at first, my rent was only $400 a month,” she recalls. “Now, my roommate and I are paying $675 each for an old house plagued with maintenance issues—it’s frustrating.” Cissom’s experience illustrates a rapid escalation, as she notes that rent has surged from $1,050 for a three-bedroom house to approximately $1,500 for new renters, highlighting that many working-class residents are getting squeezed out of the market.

Debating the Cause

While some attribute the rent crisis to a growing number of students, others like Cissom discuss the influence of out-of-state residents moving in and driving prices. In fact, the population of non-student residents has climbed from roughly 11,800 in 2000 to 27,509 in 2024, as per the World Population Review. The surge in rental prices has led Cissom to make a tough decision: “I started looking for another place last year and suddenly, all the prices had shot up. It just made more sense to move back to New Albany and commute to work,” she shares.

Landlords Weigh In

Property owners like John Russell, who owns several rental properties across Oxford, have a different perspective. Russell argues that the blame should not solely rest on the city or its policies. “The city shouldn’t be responsible for building houses; people have to consider the university’s growing student population,” he states. “If enrollment continues to rise—like by 750 students in one freshman class—there’s just not enough housing to meet that demand, and rent is bound to increase.” Additionally, he highlights the economic pressures landlords face with property taxes and insurance needing to be accounted for when setting rent prices.

Cities and Schools Taking Action

The local government is recognizing the need for affordable housing and has taken steps towards that end. Deputy Director of the Oxford Housing Authority, Teasha Sanders, confirmed that the influx of students is increasing the housing affordability crisis. “Many rental complexes cater to college students and inflate prices, making it tough for families seeking affordable housing,” she explains. While this growth comes with benefits, it also adds complications for long-time residents looking to stay in their hometown.

The University of Mississippi acknowledges this dilemma as well. In response, they are leasing additional furnished bed spaces in nearby complexes to accommodate their growing population. “We are committed to working with community leaders to ameliorate any negative impact of our growth on Oxford,” says Jacob Batte, the university’s director of news and media relations.

Residents Seek Solutions

Despite reassurance from the university and city officials, residents like Kayla Hilliard express frustration with the slow process in securing affordable housing. “I’ve been waiting for two years on a Section 8 housing list, which is tough when you’re trying to make ends meet,” she shares. Sanders highlights that the limited supply of affordable housing leads to long waiting lists, with residents feeling stuck in a difficult situation.

Looking Ahead

As Oxford continues to draw newcomers and its population grows, residents hope for thoughtful solutions that address the housing crisis without compromising the character of this beloved town. “Oxford is fantastic, but it’s crucial that the needs of the people who keep this town running are not overlooked,” notes Watkins — raising a key point in this ongoing discussion about the challenges and opportunities ahead.