Prices are rising, like it or not. With the cost of living drastically increasing year by year, so does the price of moving out. Many students are spending multiple years after high school living with their parents. Many students have not even thought about moving out.
With rent, groceries and furniture prices rising, moving out seems more of a luxury than a lifestyle. Personal Finance teacher Erin Ruis is experienced in how kids should manage their budgets.
“I strongly suggest staying at home if you’re going to college near your home,” Ruis said. “You’ll save tons of money on food and housing. But not moving out you would lack the college experience you get from being alone.”
Though you would lack the college and/or living alone experience, staying at home would allow you to save money. This is a hard decision for many young adults to make.
“It’s a little hard for the lower income people as of right now,” Ruis said. “A lot of people have come in and bought the affordable housing and turned them into rental properties.”
With the issue of rising rent and high inflation consistently growing, fixes need to be made. Ruis thinks leaving this to the public, not the government, to fix the rising issues would be the best.
“Inflation in the past few years has raised the cost of living,” Ruis said. “Wages are lacking but I think over the next couple of years, we’ll slowly see wages rise to compete that inflation.”
While Ruis sees both advantages and drawbacks to staying at home, students themselves are facing these decisions more directly. For some Benson students, they have already started their planning to move out.
“I’m currently saving money in order to move out,” senior Nang Aei Kham said. “I’m planning on saving upwards of $10,000”
Early planning is always a great idea. Especially when the housing market is in a rough shape. But not as rough as it could be.
“I feel like it’s a little better in Omaha than in other places,” Kham said. “Omaha has been experiencing new development projects around the city in the recent years.”
While some students are actively saving, others feel that moving out is becoming less realistic.
“I don’t feel like it’s affordable for most Americans,” junior Israel Taylor said. “It’s causing a lot of trouble for lower income families.”
As the cost of living continues to rise, students are left navigating difficult choices about their futures. Whether they stay home to save money or push for independence despite the financial hurdles they may face, one thing is clear: moving out is no longer a simple milestone, but a challenge shaped by an unpredictable economy.
