With the ongoing student debt crisis and the continuing increase in the cost of attending a college or university, there has been an increasing conversation regarding the price of room and board. Prior studies have shown the presence of a relationship between the distance to a location of interest, but few have been done with college campuses in mind. To answer this question, we used the Hedonic Pricing Model in order to isolate the effect that the distance to campus has on the rental price of apartments. Our results showed a clear positive nonlinear relationship between distance to campus and the price of apartment rentals in the area surrounding Arizona State University.