Rising Prices are Squeezing Out Radford Renters
If you’ve been trying to rent a place in Radford lately, you’ve probably noticed it’s not what it used to be. Longtime residents are finding themselves priced out and it’s not just college students feeling the pressure anymore. Housing costs have climbed fast and the reasons aren’t all that complicated.
At the heart of the issue is Virginia Tech’s record setting enrollment. With more students flooding the New River Valley than ever before, many are branching out from Blacksburg and heading west into Radford for cheaper options. But “cheaper” is starting to feel like a thing of the past.
Radford residents like William Young are watching prices soar, especially in multi-bedroom rentals. He’s been there over 30 years and even he says he’s shocked by how fast things are changing. His daughter, now a renter herself, recently had to leave Radford altogether because she couldn’t keep up with the rising costs. What used to be affordable housing for local families is now prime student real estate.
And it’s not just demand driving prices up, it’s limited supply too. There aren’t enough new homes or rental units being built in Radford to keep pace. That means landlords can raise rents with very little push back. The result? Families who’ve lived in the area for generations are being forced out while students, who tend to be short-term tenants, are taking over more of the available housing.
The city is aware of the problem. Officials have started the early stages of a housing study to better understand the issue and figure out what can be done. But meaningful solutions will take time and for people struggling right now, that doesn’t offer much comfort.
In short, I’d say Radford’s at a crossroads. It’s always been a town with deep roots, but unless something changes soon, those roots could get pulled up by rising rent and student demand. Finding a balance that works for both longtime locals and the growing student population will be key to keeping Radford livable, for everyone.
Source article by Ethan Ellis at WSLS.com
