{"id":6114,"date":"2023-07-20T13:23:09","date_gmt":"2023-07-20T13:23:09","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=6114"},"modified":"2023-09-12T15:42:31","modified_gmt":"2023-09-12T15:42:31","slug":"student-housing-on-track-for-a-solid-2023-24","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/student-housing-on-track-for-a-solid-2023-24\/","title":{"rendered":"Student Housing on Track for a Solid 2023\/24, Yardi Matrix Reports"},"content":{"rendered":"

Five consecutive months of annual rent growth over seven percent recorded through June <\/em><\/p>\n

\u00a0<\/strong>SANTA BARBARA, Calif., July 20, 2023<\/strong> \u2013 The student housing sector continues to record strong rent growth and preleasing performance is up slightly over 2022, according to the latest National Student Housing Report<\/a> from Yardi\u00ae Matrix.<\/p>\n

As of June, 86.6 percent of beds at Yardi 200 universities were preleased for the upcoming fall term, a 5.2 percent increase from the prior month. June also marked the fifth consecutive month of annual rent growth over seven percent at Yardi 200 universities, at 7.2 percent.<\/p>\n

Given that 2022 held the previous rent record for student housing, obtaining more than seven percent growth off of previous record-high numbers is exceptional. The average rent per bed at Yardi 200 universities was $846 at quarter-end, a new all-time record.<\/p>\n

\u201cUnder the surface of solid overall fundamentals at the Yardi 200 level is mixed performance at individual schools, as some universities are doing exceptionally well while others fall short. Performance at the university level is mainly correlated to local supply-and-demand dynamics rather than higher-level trends,\u201d state Matrix analysts.<\/p>\n

The student housing data set includes over 2,000 universities and colleges nationwide, including the top 200 investment grade universities across all major collegiate conferences. Known as the \u201cYardi 200,\u201d it includes all Power 5 conferences as well as Carnegie R1 and R2 universities.<\/p>\n

However, the sector isn\u2019t totally unscathed by current economic conditions. Transaction volume through the second quarter was down about 73 percent from the same time last year, a stark reminder of weakening economic sentiment. But that hasn\u2019t slowed the off-campus dedicated student housing development pipeline, which expanded by approximately 28,000 bedrooms since January.<\/p>\n

Gain more insight in the latest Student Housing Report.<\/a><\/p>\n

Yardi Matrix covers multifamily, student housing, industrial, office and self storage property types. Email matrix@yardi.com<\/a>, call (480) 663-1149 or visit yardimatrix.com<\/a> to learn more.<\/p>\n

About Yardi<\/strong><\/p>\n

Yardi\u00ae develops industry-leading software for all types and sizes of real estate companies across the world. With over 8,500 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<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Five consecutive months of annual rent growth over seven percent recorded through June \u00a0SANTA BARBARA, Calif., July 20, 2023 \u2013 The student housing sector continues to record strong rent growth and preleasing performance is up slightly over 2022, according to the latest National Student Housing Report from Yardi\u00ae Matrix. As of June, 86.6 percent of […]<\/p>\n","protected":false},"author":753,"featured_media":6115,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[28,29],"tags":[422],"class_list":["post-6114","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-press-releases","tag-student-housing-outlook"],"yoast_head":"\nStudent Housing on Track for a Solid 2023\/24, Yardi Matrix Reports - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Five consecutive months of annual rent growth over seven percent recorded through June, Yardi Matrix data shows.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/student-housing-on-track-for-a-solid-2023-24\/\" \/>\n<meta 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