May 7, 2025
Matrix Student Housing National Report May 2025
Student Housing Fundamentals Softening
Student housing preleasing for the Yardi 200 reached 73.2% in April 2025. While that was slightly above last year, operators are reporting a tougher lease-up season, including rent cuts in some markets. Overall, advertised rent growth slowed to 2% year-over-year, with April marking the first month-over-month rent decline since August 2024. Development is down due to higher costs, with fewer beds expected through 2027. While top-tier schools remain strong, those in weaker multifamily markets and those facing new supply are experiencing more pressure.
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