{"id":6486,"date":"2023-10-03T04:23:11","date_gmt":"2023-10-03T04:23:11","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=6486"},"modified":"2024-03-12T15:37:45","modified_gmt":"2024-03-12T15:37:45","slug":"national-student-housing-market-report-september-2023","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/national-student-housing-market-report-september-2023\/","title":{"rendered":"National Student Housing Market Report \u2013 September 2023"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/student-housing-market-report\/\">Student Housing Market Report<\/a><\/strong>.<\/p>\n\n\n<hr \/>\n<h2>Report highlights<\/h2>\n<ul>\n<li>The student housing market entered the 2023-2024 school year with a preleasing rate of 94%, just 0.2% behind last year\u2019s average in August<\/li>\n<li>Transaction volume <a href=\"https:\/\/www.yardimatrix.com\/blog\/national-student-housing-market-report-august-2023\/\"><strong>suffered a significant decrease<\/strong><\/a> in the past months and was down 72.6% from last year\u2019s total year-to-date through August<\/li>\n<li>Development was still strong, with roughly 40,000 beds expected to deliver in the fall of 2023<\/li>\n<\/ul>\n<p>As of August, preleasing at Yardi 200 universities reached 94%, just 0.2% lower than at this point last year and significantly higher than the previous three-year\u2019s average of 89.2%.<\/p>\n<p><iframe id=\"datawrapper-chart-AivWg\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Preleasing and rent growth August 2023\" src=\"https:\/\/datawrapper.dwcdn.net\/AivWg\/2\/\" height=\"777\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>A total of 40 schools were fully leased for the 2023-2024 school year, with 40% of these reaching maximum preleasing in August. Across Yardi 200, 13 universities recorded at least a 10% jump in preleasing compared to last year, while 10 institutions were 10% ore more behind August 2022 preleasing levels.<\/p>\n<p>The top three institutions that saw the biggest year-over-year growth in percentage preleased were the University of Southern Mississippi (22.7%), Ohio University (18.7%) and University of Mississippi (14.4%). Some schools struggled with achieving desired preleasing rates: 26 Yardi 200 universities were less than 85% preleased as of August, roughly 8.6% behind last year\u2019s average.<\/p>\n<h2>Rents growth was strong through the leasing season<\/h2>\n<p>As of August, student housing rent growth at Yardi 200 averaged at 6.9%, up 2.4 percent since the same period last year, but down 7.3% since July. Throughout the leasing season, year-over-year rent growth averaged 6.8%, well above the previous season\u2019s the 3.6% average. The overall rent per bedroom in August remained at the record level of $845.<\/p>\n<p>Driven by enrollment growth and a limited number of student housing properties completed this year, a number of large public schools recorded strong rent increases across Yardi 200. Arizona State University\u2013Tempe, The University of Arkansas and University of Tennessee all had rent growths that exceeded 19% in August, while boasting an average enrollment growth of 6% in 2022.<\/p>\n<p>Read the full\u00a0<a href=\"https:\/\/www.yardimatrix.com\/Publications\/Download\/File\/4489-MatrixStudentHousingNationalReport-September2023\"><strong>Matrix Student Housing Report-September 2023<\/strong><\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Report highlights The student housing market entered the 2023-2024 school year with a preleasing rate of 94%, just 0.2% behind last year\u2019s average in August Transaction volume suffered a significant decrease in the past months and was down 72.6% from last year\u2019s total year-to-date through August Development was still strong, with roughly 40,000 beds expected [&hellip;]<\/p>\n","protected":false},"author":753,"featured_media":6487,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,22],"tags":[422],"class_list":["post-6486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-trends","category-student-housing-market","tag-student-housing-outlook"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>National Student Housing Market Report \u2013 September 2023 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Student housing entered the fall 2023 semester with preleasing at 94% and rent growth of 6.9%, according to Yardi Matrix data.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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