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What is the cost of housing in your area?
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I'm in a college town, so... it varies wildly. You could probably rent a crack shack 10 miles from campus for basically nothing.
The floor for rent at a "decent" place is probably at least a grand. Actually buying a house? Who the fuck knows, but it'll definitely be obscene.
My university-owned apartment is $600 with a roommate, which is honestly a pretty good deal considering that utilities (including gigabit Ethernet!) are included.