Matrix Student Housing National Report-February 2026

Preleasing starts off strong, but rents decline

Early preleasing estimates for AY 2026–2027 suggest a pace similar to last year's, with January preleasing for the Yardi 200 reaching 52.3%. However, performance varies widely by market and remains closely tied to recent and upcoming supply. Rent growth has continued to decelerate sharply, with average rent per bed down slightly year-over-year in January. Although a few markets that struggled last year have shown improvement, the deceleration in rent growth has been widespread and pronounced across major student housing markets, many of which are seeing declines this year.

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