The latest Yardi Matrix student housing report reveals that advance leasing for the 2024-2025 academic year has reached unprecedented levels. In October, pre-leasing for the Yardi 200 roster of major universities hit a record high of 25.2%, surpassing the previous record set in October 2022 at just 10.4%.
This year, final occupancy for fall semester in the Yardi 200 markets settled at a slightly lower rate of 94.6% compared to last year’s rate of96.2%. The decrease can be attributed to new properties struggling with pre-leasing or delivering late, resulting in an overall occupancy rate of only81.7% for properties completed in2013.
In terms of rent prices, average asking rent per bed among the Yardi200 markets was $854inOctoberforthe upcoming schoolyear,a6 .6 %increase fromlastyear.”Someoftheschoolswiththefastestpre-leasingarealreadyseeingrentsup15-25%year-over-year,”states thereportasoperatorscapitalizeonthehighdemand.
Pictured: Ohio University’s main campus leads all other schools on theYardil00listwiththeyear-over-yeargrowthinpreleasing.Theuniversityhasseenanimpressiveuptickindemandandisprojectedtocontinuetoexperiencesignificantgrowthinthecomingyears.Theseexcitingdevelopmentsdemonstratethestrongpotentialofthestudenthousingmarketanditsabilitytodeliverprofitableopportunitiesforinvestorsandsavvyoperatorsalike.
