Student housing preleasing stays flat as rent growth cools

The average advertised rent was $918 in March 2025—the lowest month for rent growth since July 2021.
April 24, 2025
ID 179574068 | In © Steven Cukrov | Dreamstime.com
IRVINE, CALIFORNIA - 16 APRIL 2020: Brandywine student housing in the Middle Earth area of the University of California Irvine.
Photo © Steven Cukrov | Dreamstime.com

Student housing preleasing reached 67% in March 2025, according to the latest Yardi Matrix Student Housing National Report. This preleasing level for Yardi 200 schools is just behind the level reported a year ago, with rent growth decelerating to 2.5 percent.

Preleasing Stays Flat as Rent Growth Cools

Rent growth has averaged 3.9% this leasing season, compared to 5.8% in 2023–2024 and 7% in 2022–2023, according to the report. The average advertised rent was $918 in March 2025—the lowest month for rent growth since July 2021.

© Yardi Matrix
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"Average rent growth of 2.5% in March 2025 was down 90 basis points from 3.4% in February, the greatest month-over-month decline in the growth rate in the last six years," the report states.

Thirty-four universities (like Virginia Tech, Alabama, and Kentucky) were over 80% preleased in March, while 41 markets (including Utah Valley, UNC-Greensboro, and the University of Houston) were less than 50% preleased.

Click here to read the full Yardi Matrix report.

 

About the Author

Quinn Purcell

Quinn Purcell is the Managing Editor for Building Design+Construction. He is a graduate of Idaho State University with a Bachelor of Arts in Communication, and an emphasis in Multiplatform Journalism. He specializes in video, photography, copywriting, feature writing, and graphic design.

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