Fifty-five schools had preleasing over 50% as of December, including 14 that were above 75%
Preleasing at student housing properties has started out strong in 2025. By December of last year, preleasing at the Yard 200 schools reached just over 47 percent. This is a jump of seven percentage points above the same time in 2023, according to the Matrix Student Housing National Report – January 2025.
As for rent growth, this leasing season in behind the last two years at 3.8% year-over-year. Student housing rent growth has steadily declined since reaching a peak of 7.6% in June 2023. This leasing season, the average rent growth has been 4.3%, although rent per bed hit a record high of $909 in December.
The supply of new student housing has decreased, with 35,703 off-campus, dedicated student housing beds completed in 2024, a drop from 44,746 beds in 2023. Looking ahead, Yardi Matrix forecasts a continued decline in supply, with 32,100 beds expected in 2025 and 33,995 beds in 2026.
Schools with the strongest enrollment growth include the University of Arizona (6.3% growth), Purdue (5.6%), the University of Illinois (5%), Kennesaw State (6%), LSU (5.8%) and Texas State (5.1%).
