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
Multifamily Housing | Dec 21, 2022
Bay Area school district builds 122 affordable apartments for faculty and staff
The 122 affordable apartments at 705 Serramonte, Daly City, Calif., were set aside not for faculty and staff at Jefferson Union High School District.
Cladding and Facade Systems | Dec 20, 2022
Acoustic design considerations at the building envelope
Acentech's Ben Markham identifies the primary concerns with acoustic performance at the building envelope and offers proven solutions for mitigating acoustic issues.
Sponsored | Multifamily Housing | Dec 14, 2022
Urban housing revival: 3 creative multifamily housing renovations
This continuing education course from Bruner/Cott & Associates highlights three compelling projects that involve reimagining unlikely buildings for compelling multifamily housing developments.
Multifamily Housing | Dec 13, 2022
Top 106 multifamily housing kitchen and bath amenities – get the full report (FREE!)
Multifamily Design+Construction's inaugural “Kitchen+Bath Survey” of multifamily developers, architects, contractors, and others made it clear that supply chain problems are impacting multifamily housing projects.
Student Housing | Dec 7, 2022
9 exemplary student housing projects in 2022
Production continued apace this year and last, as colleges and universities, for-profit developers, and their AEC teams scrambled to get college residences open before the start of classes.
Student Housing | Dec 7, 2022
Cornell University builds massive student housing complex to accommodate planned enrollment growth
In Ithaca, N.Y., Cornell University has completed its North Campus Residential Expansion (NCRE) project. Designed by ikon.5 architects, the 776,000-sf project provides 1,200 beds for first-year students and 800 beds for sophomore students. The NCRE project aimed to accommodate the university’s planned growth in student enrollment while meeting its green infrastructure standards. Cornell University plans to achieve carbon neutrality by 2035.
Multifamily Housing | Nov 22, 2022
10 compelling multifamily developments debut in 2022
A smart home tech-focused apartment complex in North Phoenix, Ariz., and a factory conversion to lofts in St. Louis highlight the notable multifamily developments to debut recently.
Multifamily Housing | Oct 5, 2022
Co-living spaces, wellness-minded designs among innovations in multifamily housing
The booming multifamily sector shows no signs of a significant slowdown heading into 2023. Here is a round up of Giants 400 firms that are driving innovation in this sector.
Multifamily Housing | Sep 14, 2022
27 new kitchen and bath products multifamily developers and AEC teams are using for the first time
Multifamily developers and AEC project teams are adopting new kitchen + bath products and systems for the first time, according to the MULTIFAMILY Design+Construction Kitchen+Bath Survey 2022.
Multifamily Housing | Sep 13, 2022
Take the Multifamily Kitchen + Bath survey – Maybe win one of 10 $50 gift cards
Preliminary results of 2022 Multifamily Design+Construction exclusive Kitchen + Bath survey.