Affordable furnished housing in State College

Rent near Penn State keeps climbing. Here's how to compare the true monthly cost, and why many students land on the co.space.

Apply for 2027-28Book a tour
Kitchen at the co.space

Updated 2026-11-02

At a glance: furnished doubles $895/month, singles $1,125/month, plus $50/month for all utilities and internet. 12-month lease, August 19, 2027 to August 15, 2028. 244 E Nittany Ave, a 5-minute walk to campus.

What does housing near Penn State actually cost?

Many downtown apartments list rent around $1,000 per person, then add utilities and internet ($150-250), laundry, supplies, a bus pass and furniture. Newer complexes often run $1,150 to $1,550 a month. At the co.space a furnished double is $895 plus a flat $50 for every utility: $945 a month all-in.

What's included for that price?

  • Furnished bedroom (bed, desk, dresser)
  • All utilities and high-speed wifi for $50 flat
  • Free in-house laundry with detergent
  • Cleaning and household supplies
  • Twice-weekly house dinners and two funded retreats a year
  • A 5-minute walk to campus, so no bus pass or car needed

How to save even more

  • Apply with a friend: if you're both accepted, you each get a $200 gift card.
  • Skip the big security deposit with our Obligo option.
  • PLA students can get a $1,000 Creative Project Grant.

Try the cost calculator to compare any apartment you're considering.

Frequently asked questions

What is the cheapest furnished housing near Penn State?

Prices change every year, but the co.space is one of the most affordable furnished options downtown: $895/month for a double plus a $50 flat utility charge ($945 all-in) for 2027-28, a 5-minute walk from campus.

Are utilities included at the co.space?

Utilities are a flat $50/month covering internet, gas, electric, water, trash and lawn care. Laundry and household supplies are included in rent.

Do I need to pay a large security deposit?

Not necessarily. We partner with Obligo, which lets residents skip a large upfront cash deposit by paying a small monthly fee instead.

Can I apply with a friend?

Yes. You can apply individually or with friends. If you apply with a friend and you are both accepted, you each receive a $200 gift card.

Keep exploring

Where to next?

Off-campus housing guideTiming, costs and optionsSophomore housingLeaving the dormsWhat is co-living?How it works

Come see it for yourself

Tours are the fastest way to know if the co.space is your kind of home. Text us, book a time, or start your application.

Apply to live hereBook a house tourText us