Several weeks ago, Cavanaugh launched a petition asking the university to declare a student housing crisis, as part of UMForward, a student-led tenants' union.
"When freshmen move here from in-state or out-of-state, they have a good chance of getting housing," he told MPB. "But really after that, you're on your own."
He and other students say that there are few places to live in town, and the spots available are often well beyond the price range of most college students.
A one-bedroom apartment in Oxford averages just under $1,300 -- up nearly 11% from last year.
"To live comfortably in Oxford, you would need to make somewhere around $24 an hour, which for students and even for a lot of older members of the Oxford, Lafayette community is really simply unaffordable," said Cavanaugh.
Last week, the Institutions of Higher Learning approved a request from the university for a leasing agreement that would be step one in building more dorms.
If more housing isn't a necessity now, it very well could be down the line -- enrollment has gone up by 5.2%, about 1,200 more students this fall than last year.
The planned Ole Miss project would create space for 2,700 new beds for students in Oxford, with an expected move-in by 2027.
One of the new dorm sites would also add a new dining facility and a new parking garage.
MPB reached out to the university to speak with John Yaun, director of student housing, who was not available before publication.
Cavanaugh and Wood both say adding more dorms is great, but have some concerns about the partner company involved. That company, Greystar, was sued by the Federal Trade Commission earlier this year over deceptive advertising and a slew of hidden fees.
"We want Oxford to be affordable, sustainable and equitable," said Cavanaugh.
"We want to make sure that housing is tenant and student-centered rather than just being purely for profit."
In the meantime, Wood says they're looking at organizations at other colleges, like the University of Arkansas, to help focus their next steps beyond the petition.
"We're working in coordination with an organization at the University of Arkansas as well called Zero Hour Arkansas, which is also running a petition for their university to declare a crisis," said Wood.
"Their demands, along with that, are capping enrollment and also having an elected student to represent student interests as part of their housing committee."
Jade Craig, a law professor at the university, agrees that the dorm project is a good first step.
"I do think that increasing the amount of housing provided by the university will offset some of the problems in the broader market," he told MPB.
And, students not venturing into the off-campus market would do more than just free up housing for other Oxford residents -- like local families or Ole Miss faculty, who also have to live in the area.
"With a lower amount of supply in terms of potential renters or buyers, I think that would lead landlords or sellers to reduce the price at which they offer housing," Craig said.
Still, he says it'll take more than just market-based solutions.
"There should be a real loosening of regulations in order to facilitate the construction of affordable housing and the state and local government should get involved in building and preserving affordable housing," Craig told MPB.
Oxford's director of planning, Ben Requet, says there's quite a few factors at play: increased enrollment. The short-term rental market and attraction of Ole Miss sports.
Expensive growth because Oxford has to build new, instead of repurposing old, buildings to meet changes in resident needs.
He hopes long-term, existing city efforts like establishing an Affordable Housing Commission, will pay off in meeting the needs of all Oxford residents.
"I think it's a marathon, it's not a sprint," Requet said. "Although, as one of our commissioners pointed out, it feels like it's a marathon at a sprinter's pace."
Ultimately, Craig said, the university is a major player in Oxford, and will need be proactive in taking care of its students and its community.
"The university is one of the partners that is in the best position to increase housing stock, in part because of its position in the community," Craig said.
"It has access to state funds and resources and programming that other institutions don't have --and, it perhaps is more nimble in terms of being able to build and develop new housing than the city of Oxford itself."
