Property type, campus proximity figure prominently; enrollment growth slows at some schools
SANTA BARBARA, Calif., Sept. 24, 2026 – Preleasing at the Yardi® schools reached 93% in August 2026, topping the final August 2025 estimate by 80 basis points and the August 2024 level by 120 basis points, according to new data from Yardi® Matrix.
Leasing season average rent growth has improved in 72 of the Yardi 200 markets, including several where rents declined last year. Class A properties and those closest to campus outperformed in both preleasing and rent growth. The 1.6% average rent growth for properties within 0.25 miles of campus contrasted with the previous two leasing seasons, when the closest properties trailed the national average.
Although the advertised rent of $927 per bed in August trailed the $929 and $930 levels recorded in July and June, respectively, year-over-year growth held at 2% due to five straight months of decline last year.
On another front, data for 38 of the Yardi 200 schools suggest enrollment has grown 0.6%, compared with 1.8% last year, with declining international enrollment cited as a contributing factor. For example, Arizona State University’s Tempe campus and the University of North Texas, both of which have a significant international undergraduate student presence, report declines of 7.4% and 3.6%, respectively.
Meanwhile, schools such as Texas Tech University, Georgia Southern University and Texas State University report strong enrollment growth.
This month’s preleasing figure is subject to revision pending confirmation of final occupancy next month.
Despite positive performance in some markets, “rent growth remains elusive,” according to Yardi Matrix. Get a complete report on the fundamentals shaping this assessment in the Yardi Matrix Student Housing National Report for September 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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