Effect of Tertiary Students’ Population on Rental Values of Residential Facilities in the Hohoe Municipality of the Volta Region of Ghana

The availability and quality of accommodation can influence the rental prices of residential properties, particularly in areas with a high concentration of tertiary students. Grounded in the Ricardo’s Theory of Rent and the Modern Theory on Rent, this study examined the effect of tertiary student population on rental values of residential facilities in the Hohoe municipality. Specifically, the study identified the rental values of residential facilities in the Hohoe municipality, examined the effect of tertiary students’ population on rental values in the Hohoe municipality, and identified factors contributing to rental values in the Hohoe municipality. The study adopted a mixed methods research approach and data was collected from residents, landlords, and officials of key tertiary institutions in the Hohoe municipality. The findings showed that the enrolment of students in various tertiary institutions has affected rental prices negatively causing rental prices to increase in the Hohoe Municipality owing to the non-availability of on-campus housing facilities in most of the institutions. Most landlords charged between 250-300 Ghana cedis per month and the least was between 150-200 Ghana cedis per month. The findings revealed that the demand for housing, location of the property, proximity, rental price, safety and security, and the amenities available were among the factors contributing to the rental values of residential facilities in the Hohoe Municipality. The study concludes that the increasing population of tertiary students in Hohoe Municipality has driven up rental prices due to limited on-campus housing.