Preleasing rate at 87.2 and five percent rent growth impress analysts
SANTA BARBARA, Calif., July 27, 2022 – The student housing industry continued to break records in the second quarter of 2022, according to the new quarterly National Student Housing Report from Yardi® Matrix.
An 87.2 percent preleasing rate and rent growth of five percent in June were the highest Matrix researchers have seen thus far for Yardi 200 universities, and transaction activity remains elevated despite rising interest rates. The preleasing rate is 10.1 percent higher than last year and 7.7 percent higher than pre-pandemic 2019.
“With a few months to go in the leasing season, we expect Yardi 200 universities to start the fall term with record-breaking occupancy,” state Matrix analysts. The Yardi Matrix student housing data set includes over 2,000 universities and colleges nationwide, including the top 200 investment grade universities across all major collegiate conferences. Known as the “Yardi 200,” it includes all Power 5 conferences as well as Carnegie R1 and R2 universities.
“Confidence in the sector abounds as the fall semester approaches, and previous concerns of headwinds have largely been put to rest,” state Matrix analysts in the new report.
While some sectors of academia are experiencing postsecondary enrollment declines, the losses have primarily been at community colleges and smaller schools rather than competitive private and public flagship universities. Fears about online learning diverting students from campus have also proven to be unwarranted, as students have a strong preference toward attending college in person.
Learn more about the expectations for student housing by downloading the new report.
Yardi Matrix covers multifamily, student housing, industrial, office and self storage property types. Email [email protected], call (480) 663-1149 or visit yardimatrix.com to learn more.
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