The student housing market for the upcoming 2024-2025 leasing season has started sooner and faster than ever. The November 2023 Matrix Student Housing National Report provides insights into key metrics shaping the market, revealing both challenges and opportunities for property owners and investors.
Yardi Matrix Student Housing Preleasing Trends
Preleasing for the 2024-2025 school year has seen an unprecedented start, reaching 25.2% in October 2023, significantly outpacing the previous year's record-setting pace of 10.4% preleased in October 2022.
![Matrix National Student Housing Report preleasing curves](/sites/default/files/inline-images/Yardi%20200%20Prelease%20Curves%20crop.jpg)
Rent and Investments
In October 2023, the average asking rent per bed among the Yardi 200 markets for the upcoming school year was $854, showcasing a 6.6% increase from October 2022. Notably, some universities experiencing the fastest preleasing are witnessing rents soaring by 15-25% year-over-year, reflecting the robust demand for student housing.
Despite the impressive preleasing figures, investment activity has seen a significant decline due to higher interest rates, with only 66 dedicated student housing properties sold so far in the current year, compared to over 200 at the same point last year.
While challenges such as lower occupancy and cautious investment behavior persist, the surge in preleasing activity, coupled with rebounding enrollments, points to a resilient and potentially lucrative market for student housing in the coming year.
![Yardi 200 Annual Rent Growth student housing chart](/sites/default/files/inline-images/Yardi%20200%20Annual%20Rent%20Growth.png)
To read the full report, visit yardimatrix.com
Related Stories
Vertical Transportation | Jul 12, 2024
Elevator regulations responsible for some of ballooning multifamily costs
Codes and regulations for elevators in the United States are a key factor in inflating costs of multifamily development, argues a guest columnist in the New York Times.
Student Housing | Jul 1, 2024
Two-tower luxury senior living community features wellness and biophilic elements
A new, two-building, 27-story senior living community in Tysons, Va., emphasizes wellness and biophilic design elements. The Mather, a luxury community for adults aged 62 and older, is situated on a small site surrounded by high-rises.
Student Housing | Jun 25, 2024
P3 student housing project with 176 units slated for Purdue University Fort Wayne
A public/private partnership will fund a four-story, 213,000 sf apartment complex on Purdue University Fort Wayne’s (PFW’s) North Campus in Fort Wayne, Indiana. The P3 entity was formed exclusively for this property.
Student Housing | Jun 20, 2024
How student housing developments are evolving to meet new expectations
The days of uninspired dorm rooms with little more than a bed and a communal bathroom down the hall are long gone. Students increasingly seek inclusive design, communities to enhance learning and living, and a focus on wellness that encompasses everything from meditation spaces to mental health resources.
MFPRO+ News | May 28, 2024
ENERGY STAR NextGen Certification for New Homes and Apartments launched
The U.S. Environmental Protection Agency recently launched ENERGY STAR NextGen Certified Homes and Apartments, a voluntary certification program for new residential buildings. The program will increase national energy and emissions savings by accelerating the building industry’s adoption of advanced, energy-efficient technologies, according to an EPA news release.
Student Housing | May 28, 2024
Student housing remains strong in May 2024
Although the pace has slowed down this year, student housing preleasing for the 2024–2025 season reached 73.5% in April, 50 basis points year-over-year (YOY).
MFPRO+ News | May 24, 2024
Austin, Texas, outlaws windowless bedrooms
Austin, Texas will no longer allow developers to build windowless bedrooms. For at least two decades, the city had permitted developers to build thousands of windowless bedrooms.
Student Housing | May 3, 2024
Student housing construction dips in the first quarter of 2024
Investment in college dorms dipped slightly in the first quarter of 2024, but remains higher than a year ago.
Student Housing | May 1, 2024
Pfluger Architects unveils renovated student lounges at all-girls dormitory
In a step toward updating and modernizing on-campus housing to attract a range of students, Texas-based Pfluger Architects renovated the student lounges in Kinsolving Hall, a five-story, all-girls dormitory at The University of Texas at Austin initially built in 1958.
Student Housing | Apr 23, 2024
Student Quarters selected to manage 502-bed student housing community
Student Quarters, a leading student housing owner and management company, announces the newest addition to its portfolio: The Armory Sam Houston Apartments.