New national report draws data from Yardi 200 schools
SANTA BARBARA, Calif., Feb. 18, 2026 – Early data offers evidence of a solid start to preleasing for the 2026-27 academic year, according to data from Yardi® Matrix.
Preleasing reached 52.3% in January 2026 compared to the 45.6% initial estimate for January 2025. However, rent growth continued its long-term deceleration, with rents down 0.2% year-over-year in January 2026, contrasting to the 3.7% growth recorded in January 2025 and the 6.5% growth seen as recently as January 2024.
While preleasing at the majority of the Yardi 200 schools is pacing ahead of last year, performance varies widely by market, with 64 markets ahead by at least 10% in January. Meanwhile, 28 schools trailed last year’s pace by more than 10%; many of them, including Purdue University, Indiana University and the University of Tennessee, have absorbed significant new supply in recent years and will continue to see additional deliveries.
Rents per bed across the Yardi 200 schools, which encompass more than 1 million beds, have remained flat since the leasing season’s start in October 2025. “As with preleasing, rent performance varies by school, though far fewer markets are posting strong growth compared to last year,” Yardi Matrix states in a new national report.
Yardi Matrix may revise early preleasing estimates as additional data becomes available.
Get more in-depth information about U.S. student housing market fundamentals in the Yardi Matrix National Student Housing Report for February 2026.
Yardi Matrix offers the industry’s most comprehensive market intelligence tool for investment professionals, equity investors, lenders and property managers who underwrite and manage investments in commercial real estate. Yardi Matrix covers multifamily, single-family rentals/ build to rent, affordable housing, student housing, self storage, office, industrial, retail and vacant land property types. Email [email protected], call 480-663-1149 or visit yardimatrix.com to learn more.
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