Harvard University, a private school that was once ranked as one of the best colleges in the world, is still a great place to live and to study.
That’s because it’s still affordable, according to a new study from NerdWallet, the financial site that is one of our favorite sources for information on the world’s most expensive cities.
NerdWallet analyzed data from NerdHeroes, a site that offers users access to data on more than 1,200 U.S. universities, to determine the affordability of the national university.
The average monthly rent for the average home in the U.s. is $1,903, according the site.
For comparison, NerdHeros rent ranges from $1.17 per square foot to $2.35 per square feet.
For the average student living in the nation’s capital, a home costs $3,000.
NerdHero says that figure is about what the average family in the same metro area pays.
“Our research shows that the average household income in the city of Washington, D.C., is only $24,000 a year, so the typical student living there spends more than half of their income on housing,” NerdHerOres research director Andrew Smith wrote in a statement.
So, NerdWallet’s research shows the average rent in D.c. is still cheaper than what you’d pay for a similar home in Seattle or San Francisco, Nerd Heros says.
That’s not to say NerdHerers study isn’t a good resource for renters looking to find affordable homes in their area.
NerdWallet says it provides renters with information on prices and mortgage rates for homes and apartments in the area, as well as a list of all available apartment and condo properties.