According to the latest Yardi Matrix National Student Housing Report, preleasing at 200 schools in the Yardi network reached 89.2% in July, slightly lower than last year’s performance. Additionally, rent growth has also slowed down compared to 2023 numbers. As of now, occupancy levels are still behind by 5%, but there are promising signs as 41 universities have already exceeded last year’s levels with University of Nebraska leading the way.
The average advertised asking rent per bed at Yardi 200 schools was $897 in July, showing a year-over-year increase of 4.7%. Out of these schools, there were significant increases (at least10%) recorded by36 universities while34 saw a decline from last year’s numbers.Majorityof markets with high rent growth also experienced strong enrollment growth.
Matrix analysts noted that rents have remained stagnant for five months and rent growth has decreased from nearly7% earlier this leasing season due to slower preleasing pace.”
