Colleges and universities tracked by Yardi reached an average of over 89 percent preleased beds percent in July, falling slightly behind last year
(SANTA BARBARA, Calif., August 14, 2024) – Surveyed preleasing at Yardi 200 schools hit 89.2 percent in July, down slightly from 2023’s performance, while rent growth reached 4.7 percent, according to the latest Yardi® Matrix National Student Housing Report.
In July, the student housing sector was still five percent behind Fall 2023 occupancy levels. While surveyed preleasing has seen a slowdown this summer, 41 universities have already exceeded Fall 2023 occupancy levels.
As of July, the average advertised asking rent per bed reached $897 at Yardi 200 schools, marking a 4.7 percent increase year-over-year. Across Yardi 200, 36 universities recorded at least 10 percent rent growth in July, while 34 schools were below last year’s levels. Markets boasting high rent growth tended to also demonstrate strong enrollment growth.
“Rents have remained flat for the last five months and rent growth has dropped from close to seven percent early in the leasing season as preleasing pace has slowed,” state Matrix analysts.
Gain more insight in the new Yardi Matrix National Student Housing Report.
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