Student accommodation providers in Sheffield are reducing their prices and introducing promotions as they compete for tenants in an increasingly crowded and competitive market.

Between 2022 and 2025, data revealed a 17.3% decrease in demand for student rooms, which has been associated with the continuing rising cost of living crisis in the UK.

Statistics indicate that most students in Sheffield pay anywhere between £300 to £840 a month for rent and accommodation, with some areas being more expensive than others. 

Affordability for students has become a recent topic for discussion amongst student accommodation companies, such as IQ, with over 30 different locations around the country.

A staff member at IQ Student Accommodation said the falling demand and increased competition have forced providers to rethink their pricing strategies across multiple sites in the city. 

“IQ have decreased their prices because Sheffield’s ranking wasn’t very good for accommodation, and we weren’t making that many sales. 

“Ultimately, it’s about attracting more customers and making sure students have somewhere to stay, especially in times like this where everything is becoming more expensive.”

The company, IQ, operates several sites in Sheffield, including IQ Brocco, IQ Fenton House, and IQ Steel, each offering different price points and targeting a different demographic of students.

A 19-year-old student living in an IQ building in Sheffield said: “I’ve seen more and more people looking into private accommodations to try and find the cheapest solutions.

“Personally, living at IQ has been amazing so far, considering how cheap it is compared to other places where people can’t even use their maintenance loan to cover rent.”

Marnie Lusardi, 19, who is a student living in different accommodations within Sheffield, said: “I pay a lot for my rent, I find it to be really expensive, but I just wanted to make sure I live nearby campus to make my life easier.

“I really should have done my research before moving, because some of these prices are getting out of hand.”

As of February 2026, there are 907 student accommodation buildings in Sheffield, with a 60.31% occupancy rate, leaving over 350 rentals available.

Despite Sheffield being one of the most affordable cities in the UK for students, with figures suggesting a 10% difference compared to the national average, students are still struggling.