The Sigma Chi House Corporation board members work hard to run the House as efficiently as possible so that rent for our undergraduate brothers can be kept at a minimum. Apartment owners play the supply/demand game and charge as much as the market will bare.
Fresno Sigma Chi charges $650/month during the school year which includes meals, and $425/month during the summer without meals. The rent includes all utilities, cable TV and the fastest commercial broadband that Comcast offers. Apartment rent excludes all three. Average energy cost in Fresno is $220 while cable/broadband starts at $80.
There really is not an apple-to-apple comparison though since apartments don’t offer the experiences available at a fraternity house such as enhancing brotherhood and learning leadership and social skills. And 50% of the Chapter House is common area that all brothers can enjoy, even those who cannot live in. In addition, brothers who apply, academically qualify and choose to live in the Chapter House can obtain $1,000 scholarships for each semester of the school year. But suffice it to say, the Fresno Sigma Chi House Corporation is holding the line as apartment rents rise in Fresno.
Apartment Rents in Fresno Rise 19.8%, Makes International News
The Guardian, a British news and media website on November 6, 2021 presented an article relating to apartment cost increases, and noted that the largest increase was in Fresno, California. With a median cost of $1,141 for a one-bedroom and $1,421 for a two-bedroom, Fresno rents are still below those of San Francisco or Los Angeles.
Fresno is the largest city in the agricultural Central Valley, and has historically been one of the most affordable places to live in California. But during the pandemic, rents began to rise dramatically, climbing by 26% over 12 months.
Locals attribute the surge to people seeking to escape the high cost of living in Los Angeles and the Bay Area. But even as life returns to pre-pandemic norms, those who live here say the situation isn’t getting any better. Rents, which had been steadily climbing for years before the pandemic, are still rising and, coupled with a shortage of homes, that’s hitting low-income residents hardest.