GRAND FORKS - Students who live in a home owned by their parents are becoming more common at the University of North Dakota and real estate agents say the trend would grow more quickly if not for the city's housing shortage.

"It's been a little more each year until this past summer, when it's been just unreal," longtime Grand Forks real estate agent Jim Dunavan said.

Dunavan and others say there are several reasons for the growing trend: Real estate prices have been on a constant rise, mortgage interest rates are low, and buyers receive tax write-offs for interest and property taxes.

"Then in four, five years, they turn around and sell it for a good profit," Dunavan said. "It's a win-win situation all the way around."

Despite the rapid growth of UND enrollment, the residence halls do not have a waiting list. That's because students more widely prefer off-campus living than previous generations.

"Each generation that comes along wants to have something equal to or better than their parents had," real estate agent Jerry Youngberg said. "So, it's not surprising they don't want to share crowded conditions when they probably have had their own room at home since they were a baby."

Student expectations have changed, said Suzie Belyea, associate director of housing at UND.

"They want more privacy because they're used to having it," Belyea said. "They also want more space and more amenities. When I went to college, someone having their own stereo was a big deal."

When a house went up for sale two blocks from campus last summer, Randi Schaeffer quickly purchased it to house her son, two daughters and three of their friends, all attending UND.

"I wanted a place that was close to campus so they could walk," she said. "I wanted a house that was affordable yet didn't need a lot of work. When I found it, I was very aggressive."

She calculated that rent for her three children would be $13,000 a year. But in this six-figure house, the monthly mortgage payment plus utilities, telephone, cable television and Internet service comes to about $1,300 a month.

"All six of them pay an equal amount of everything," Schaefer said.

In addition to being less expensive, the option allowed her children to remain a family.

"And it teaches the value of owning a home because the home is not only in my name, but also the kids' names," Schaeffer said. "They're learning the daily chores that are required. It teaches them about responsibilities and relationships."

With her children going for postgraduate degrees and another child who will be entering UND in two years, she figures the house will be occupied for eight to 10 years. She's not sure about what will happen after that.

"I'll see what the market is like," she said. "But I already lease out property, and it's a nightmare. I think you care about a property more if you have a personal or family investment."