{"id":6502,"date":"2023-10-20T11:47:20","date_gmt":"2023-10-20T11:47:20","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=6502"},"modified":"2023-10-23T12:04:18","modified_gmt":"2023-10-23T12:04:18","slug":"student-housing-performance-slips-but-sector-still-well-positioned","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/student-housing-performance-slips-but-sector-still-well-positioned\/","title":{"rendered":"Student Housing Performance Slips, But Sector Still Well-Positioned, Yardi Matrix Reports"},"content":{"rendered":"

Data provider expands coverage area, including more institutionally-owned student properties<\/em><\/p>\n

SANTA BARBARA, Calif., Oct. 20, 2023<\/strong> \u2013 Preleasing for student housing dropped back from 2022 levels in the final weeks of summer and start of fall, according to the latest National Student Housing Report<\/a><\/strong> from Yardi\u00ae Matrix, which is now available for download.<\/p>\n

For leading-edge professionals, be sure to register for the Oct. 25 Student Housing National Outlook Webinar<\/a>, which delivers in-depth insight on sector performance and opportunities.<\/p>\n

The preleasing slowdown also impacted rent growth, which has dropped 0.9 percent from its March peak. Still, the sector is strongly positioned going into the fall 2023 semester, with high occupancy and record-high rents for the 2023-2024 school year.<\/p>\n

In an update to student housing reporting, an updated Yardi Matrix data set includes 892,511 beds in 30 markets as of this reporting period. This grouping incorporates more markets with institutionally-owned dedicated student housing properties.<\/p>\n

As of September 2023, 95.1 percent of beds at Yardi 200 universities were preleased, compared to 96.2 percent in September 2022. Analysts say that lower preleasing in recent months can be partly attributed to slow lease-up of new 2023 deliveries, which were only 84.4 percent preleased in September.<\/p>\n

\u201cThis year\u2019s lease-up was still a success, however, as September preleasing was ahead of September 2019, 2020 and 2021, and 56 university markets had preleasing of 99 percent or above,\u201d states the report.<\/p>\n

Rents are near an all-time high at $846 per bed, relatively unchanged in the past four months. Rent growth dropped to 6.1 percent in September, down from 6.5 percent in August and a peak of 7 percent in March 2023. But it is still well above previous years; it averaged 2.9 percent in September 2019, 2020, 2021 and 2022.<\/p>\n

A significant 33 markets had double-digit rent growth as of September, including some of the largest student housing centers, like Purdue, Arizona State, Clemson and the University of Georgia.<\/p>\n

Read more findings from the latest student housing report<\/strong><\/a>.<\/p>\n

Yardi Matrix offers the industry\u2019s 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, student housing, vacant land, industrial, office, retail 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 9,000 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<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Data provider expands coverage area, including more institutionally-owned student properties SANTA BARBARA, Calif., Oct. 20, 2023 \u2013 Preleasing for student housing dropped back from 2022 levels in the final weeks of summer and start of fall, according to the latest National Student Housing Report from Yardi\u00ae Matrix, which is now available for download. For leading-edge […]<\/p>\n","protected":false},"author":753,"featured_media":6503,"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-6502","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-press-releases","tag-student-housing-outlook"],"yoast_head":"\nStudent Housing Performance Slips, But Sector Still Well-Positioned, Yardi Matrix Reports - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Preleasing for student housing dropped back from 2022 levels in the final weeks of summer and start of fall, Yardi Matrix reports.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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