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Cost of living to remain high in the Brazos Valley for at least another year

Posted at 7:21 PM, Jun 10, 2022
and last updated 2022-06-10 20:54:03-04

Inflation continues to make its impact on the community. From the grocery store, to the gas pump, to where people can live.

Rent is high and continues to spike. Sharon McCauley with the Bryan- College Station Apartment Association tells us how high rent has increased since the first quarter of this year, seeing an increase from 6.3 percent to 10.5 percent.

She says the demand will remain constant before we see a change.

Location is one of the root causes as to why we are seeing big increases in short time spans.

“Some things are because of the location because of where we are,” says Sharon McCauley, Executive Director, Bryan-College Station Apartment Association. “We have experienced an incredible growth. A&M did increase its enrollment. We have a lot of companies and people of course moving here.”

McCauley says new subdivisions are underway, but the amount of people coming into town, outweighs production.

“The demand can’t keep up with the supply,” says McCauley. “They can’t build them fast enough. As soon as a house comes up on the market, it’s usually gone. A lot of the times, it doesn't even hit the listing.”

Jonathan Beane is originally from San Antonio and is considering living in the College Station area but says basic necessities aren’t so basic anymore.

“Now you have to have the basic things, food, clothing and shelter,” says Jonathan Beane, a potential College Station resident. “So both of those, food going up and shelter, it’s just getting ridiculous.”

Beane has a family of five and says finding a place big enough for his family within means is hard.

“Even to rent that has a three-bedroom possibly four, it’s just the skyrocket,” says Beane. “Now you’re having to choose whether to have a place to stay versus what you can eat.”

McCauley says market rent is higher due to more population with fewer apartments and houses being built.

“A couple of years ago, maybe 2017, we were just a little oversaturated with housing, but now that has definitely flipped because of the increased enrollment and companies moving here because the climate is good for business,” says McCauley.

Beane says people can afford rent, just not today’s rent.

“People who can afford rent but just not the astronomical price of rent because they’re just getting jacked up and it’s unfortunate,” says Beane.

As rent continues to climb, McCauley says we may have to hang in there for another year.

“I don’t see the market changing at least within the next 12 months or so,” says McCauley. “I think it’s going to remain high.”

McCauley says the market is not only high here but across the nation, and we’ll continue to see those high margins as Bryan-College Station continues to grow.