Abstract
The United States has recently experienced a sharp increase in student debt and the cost of rent. In this paper, I study the potential link between these two concurrent trends at the metropolitan level using consumer credit data from Experian and characteristics of rental markets from the American Community Survey. From 2012 to 2018, I find that a $10,000 increase in student debt is associated with a $19.6 increase in the average price of rent in metropolitan areas, while controlling for numerous covariates. In addition, I find that increases in student debt are positively and significantly correlated to an increase in the share of expensive rental units in a market. Lastly, I show increases in student debt to have a negative relationship with housing price to rent ratios.
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