{"id":6603,"date":"2023-11-22T14:03:23","date_gmt":"2023-11-22T14:03:23","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=6603"},"modified":"2023-11-23T14:10:52","modified_gmt":"2023-11-23T14:10:52","slug":"student-housing-off-to-a-fast-start-for-2024-25-year","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/student-housing-off-to-a-fast-start-for-2024-25-year\/","title":{"rendered":"Student Housing Off to a Fast Start for 2024-25 Year, Yardi Matrix Reports"},"content":{"rendered":"

Many properties have started preleasing sooner and faster than ever due to high demand<\/em><\/p>\n

SANTA BARBARA, Calif., Nov. 22, 2023<\/strong> \u2013 The fall semester may just be coming to a close, but preleasing for the 2024-2025 school year is already underway and off to a strong start, states the latest Yardi\u00ae Matrix student housing report<\/a>.<\/p>\n

Advance leasing for next school year started off extremely strong, reaching 25.2 percent for the Yardi 200 in October, well ahead of the previous record 10.4 percent preleased in October 2022. Preleasing this year is indicative of solid renewal activity early on and high demand for housing at many major universities, with 14 schools already more than 40 percent preleased.<\/p>\n

As for this year, final occupancy for the Yardi 200 markets for the fall 2023 semester settled at 94.6 percent in September 2023, compared to 96.2 percent in September 2022. Lower occupancy this year can be partly attributed to new properties that delivered late or struggled with preleasing. Properties that were completed in 2023 only reached 81.7 percent occupancy for the fall 2023 semester.<\/p>\n

Last month, average asking rent per bed was $854 among the Yardi 200 markets for the 2024- 2025 school year, slightly higher than where it ended the 2023 preleasing season in September 2023 and 6.6 percent higher than October 2022.<\/p>\n

\u201cSome of the schools with the fastest preleasing are already seeing rents up 15-25 percent year-over-year, as operators take advantage of the surge in demand,\u201d states the report.<\/p>\n

Read more findings from the latest student housing report<\/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":"

Many properties have started preleasing sooner and faster than ever due to high demand SANTA BARBARA, Calif., Nov. 22, 2023 \u2013 The fall semester may just be coming to a close, but preleasing for the 2024-2025 school year is already underway and off to a strong start, states the latest Yardi\u00ae Matrix student housing report. […]<\/p>\n","protected":false},"author":753,"featured_media":6604,"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-6603","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-press-releases","tag-student-housing-outlook"],"yoast_head":"\nStudent Housing Off to a Fast Start for 2024-25 Year, Yardi Matrix Reports - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Preleasing for the 2024-2025 school year is already underway and off to a strong start, Yardi\u00ae Matrix reports.\" \/>\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-off-to-a-fast-start-for-2024-25-year\/\" \/>\n<meta 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