Yardi Matrix: Student Housing Preleasing Robust as School Year Approaches

July estimate tops 2025 level as year-over-year rent accelerates

SANTA BARBARA, Calif., Aug. 26, 2026 – Estimated preleasing at the Yardi® 200 schools reached 89.1% in July 2026, 100 basis points above final occupancy data compiled in July 2025, while year-over-year rent growth totaled 2% in July, according to new data from Yardi^® Matrix.

The per-bed average advertised rent has remained unchanged since February. Preleasing and rent growth varied widely by region, with Northeast rents rising 3% year-over-year in July, Midwest rents rising 2.5% and the West held to 0.1%.

The Midwest was the July preleasing leader at 90.9%, led by Central Michigan University and the University of Missouri, where preleasing topped 99%. The Southeast was one percentage point behind and the Northeast stayed close at 89.1%.

Preleasing in the West, the only region to trail last year’s level, was down 40 basis points to 87%, although some of its markets, including Boise State University and the University of Arizona, outperformed last year’s pace.

Several factors explain this uneven performance, Yardi Matrix says, including the concentration of new supply in large markets, which drags down performance at schools with the most beds and weighs more heavily on national metrics.

Another factor is the reported sharp declines in international student enrollment, which affects challenged markets that serve schools with large international populations such as the University of Arizona, Arizona State University, the University of Michigan, North Texas University and Purdue University.

More information about the student housing leasing and investment environment is available in the Yardi Matrix Student Housing National Report for August 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 in built-to-rent communities, 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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Yardi^® develops industry-leading software for all types and sizes of real estate companies across the world. With more than 10,000 employees, Yardi is working with our clients to drive significant innovation in the real estate industry. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.