{"id":6782,"date":"2024-01-18T10:17:05","date_gmt":"2024-01-18T10:17:05","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=6782"},"modified":"2024-04-03T19:55:01","modified_gmt":"2024-04-03T19:55:01","slug":"national-student-housing-market-report-january-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/national-student-housing-market-report-january-2024\/","title":{"rendered":"National Student Housing Market Report \u2013 January 2024"},"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>Preleasing for the fall 2023 semester settled at 94.6%, <a href=\"https:\/\/www.yardimatrix.com\/blog\/national-student-housing-market-report-q1-2023\/\"><strong>slightly below the 96.2% recorded for the previous school year<\/strong><\/a><\/li>\n<li>Preleasing for the 2024-2025 academic year hit a new record high in December, at 47.3%<\/li>\n<li>The average asking rent climbed to $858 per bed in December, with annual rent growth reaching 4.9%\u2014down from its pace of 6.4% recorded in October<\/li>\n<li>Sales have been on a downward trend, as high interest rates continue to affect investor activity<\/li>\n<\/ul>\n<h2>Preleasing reaches new record in December<\/h2>\n<p>The average December preleasing rate among Yardi 200 markets was 8.9% ahead of last year\u2019s pace, with a total of 47.3% of beds were preleased for the 2024-2025 school year. This record growth is also due to operators starting preleasing earlier each year.<\/p>\n<p><iframe id=\"datawrapper-chart-XI0KB\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Student Housing Preleasing and Rent Growth \" src=\"https:\/\/datawrapper.dwcdn.net\/XI0KB\/1\/\" height=\"561\" 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>More than a quarter of Yardi 200 institutions were at least 50% preleased for the upcoming school year as of December, with 15 markets at least 70% preleased. James Madison University (63.9%), University of Mississippi (53.6%) and Binghamton University (46.8%) had the biggest jumps in percentage of beds preleased year-over-year.<\/p>\n<p>Yardi Matrix collected enrollment data from more than 150 schools so far, with these partial results pointing towards a rebound in enrollment growth. Across these universities, enrollment was up 1.4% compared to the previous academic year.<\/p>\n<p>Similar to most real estate sectors, student housing sales have decreased through 2023. Preliminary 2023 data shows that only 73 properties changed hands last year across Yardi 200 markets. By comparison, in 2021 and 2022 the annual average was 205 properties. Prices have also gone down, decreasing from $78,884 per bed in 2021 and 2022 to $75,310 per bed in 2023.<\/p>\n<h2>Rent growth still solid, but starting to slow<\/h2>\n<p>As of December 2023, the average rent per bed at Yardi 200 schools averaged at $858, marking a 4.9% increase over 12 months. Annual rent growth has slowed, from the 6.4% recorded earlier in the leasing season and was also lower than the 6% growth registered in December 2022. A total of 25 markets had double-digit rent growth at the end of 2023, while 28 schools showed declines in rent on a year-over-year basis.<\/p>\n<p>With preleasing at another record high, Yardi Matrix predicts that rent growth will remain above average throughout the leasing season. A high percentage of markets that had the biggest rent growth had also the highest preleasing rates, including Tennessee\u2013Knoxville, Ole Miss, Purdue and Arkansas\u2014all of which were at least 79% preleased.<\/p>\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/5051-MatrixStudentHousingNationalReport-January2024\">Matrix Student Housing Report-January 2024<\/a><\/strong>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Report highlights Preleasing for the fall 2023 semester settled at 94.6%, slightly below the 96.2% recorded for the previous school year Preleasing for the 2024-2025 academic year hit a new record high in December, at 47.3% The average asking rent climbed to $858 per bed in December, with annual rent growth reaching 4.9%\u2014down from its [&hellip;]<\/p>\n","protected":false},"author":753,"featured_media":6783,"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-6782","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 January 2024 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"The average December preleasing rate among Yardi 200 markets was 8.9% ahead of last year\u2019s pace, 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\/national-student-housing-market-report-january-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"National Student Housing Market Report \u2013 January 2024\" \/>\n<meta property=\"og:description\" content=\"The average December preleasing rate among Yardi 200 markets was 8.9% ahead of last year\u2019s pace, Yardi Matrix data shows.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/national-student-housing-market-report-january-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-18T10:17:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-03T19:55:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/02\/sh-iStock-1467114055.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Razvan Cimpean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Beata Lorincz\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"National Student Housing Market Report \u2013 January 2024 - Yardi Matrix Blog","description":"The average December preleasing rate among Yardi 200 markets was 8.9% ahead of last year\u2019s pace, Yardi Matrix data shows.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/national-student-housing-market-report-january-2024\/","og_locale":"en_US","og_type":"article","og_title":"National Student Housing Market Report \u2013 January 2024","og_description":"The average December preleasing rate among Yardi 200 markets was 8.9% ahead of last year\u2019s pace, Yardi Matrix data shows.","og_url":"https:\/\/www.yardimatrix.com\/blog\/national-student-housing-market-report-january-2024\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2024-01-18T10:17:05+00:00","article_modified_time":"2024-04-03T19:55:01+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/02\/sh-iStock-1467114055.jpg","type":"image\/jpeg"}],"author":"Razvan Cimpean","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Beata Lorincz","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/national-student-housing-market-report-january-2024\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/national-student-housing-market-report-january-2024\/"},"author":{"name":"Razvan Cimpean","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/694c0c0a53e89aa8de1e53ff8201b3b6"},"headline":"National Student Housing Market Report \u2013 January 2024","datePublished":"2024-01-18T10:17:05+00:00","dateModified":"2024-04-03T19:55:01+00:00","mainEntityOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/national-student-housing-market-report-january-2024\/"},"wordCount":380,"commentCount":0,"publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/national-student-housing-market-report-january-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/02\/sh-iStock-1467114055.jpg","keywords":["Student Housing Outlook"],"articleSection":["Real Estate Trends","Student Housing Market"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.yardimatrix.com\/blog\/national-student-housing-market-report-january-2024\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.yardimatrix.com\/blog\/national-student-housing-market-report-january-2024\/","url":"https:\/\/www.yardimatrix.com\/blog\/national-student-housing-market-report-january-2024\/","name":"National Student Housing Market Report \u2013 January 2024 - Yardi Matrix Blog","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/national-student-housing-market-report-january-2024\/#primaryimage"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/national-student-housing-market-report-january-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/02\/sh-iStock-1467114055.jpg","datePublished":"2024-01-18T10:17:05+00:00","dateModified":"2024-04-03T19:55:01+00:00","description":"The average December preleasing rate among Yardi 200 markets was 8.9% ahead of last year\u2019s pace, Yardi Matrix data shows.","breadcrumb":{"@id":"https:\/\/www.yardimatrix.com\/blog\/national-student-housing-market-report-january-2024\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardimatrix.com\/blog\/national-student-housing-market-report-january-2024\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/national-student-housing-market-report-january-2024\/#primaryimage","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/02\/sh-iStock-1467114055.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/02\/sh-iStock-1467114055.jpg","width":1200,"height":628,"caption":"Image by blackCAT\/iStockphoto.com"},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardimatrix.com\/blog\/national-student-housing-market-report-january-2024\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardimatrix.com\/blog\/"},{"@type":"ListItem","position":2,"name":"National Student Housing Market Report \u2013 January 2024"}]},{"@type":"WebSite","@id":"https:\/\/www.yardimatrix.com\/blog\/#website","url":"https:\/\/www.yardimatrix.com\/blog\/","name":"Yardi Matrix Blog","description":"Stay current with the latest commercial real estate market trends and forecasts","publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.yardimatrix.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.yardimatrix.com\/blog\/#organization","name":"Yardi Matrix","url":"https:\/\/www.yardimatrix.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","width":200,"height":39,"caption":"Yardi Matrix"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/yardi-matrix\/","https:\/\/www.youtube.com\/channel\/UCRHgAZL4YoyeNEdiRN5uj0g"]},{"@type":"Person","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/694c0c0a53e89aa8de1e53ff8201b3b6","name":"Razvan Cimpean","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a2a826ff843b4f800ff5528644dc28dc336a20ec16082b6108ff5a5def333e6d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a2a826ff843b4f800ff5528644dc28dc336a20ec16082b6108ff5a5def333e6d?s=96&d=mm&r=g","caption":"Razvan Cimpean"},"url":""}]}},"jetpack_featured_media_url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/02\/sh-iStock-1467114055.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/6782","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/users\/753"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/comments?post=6782"}],"version-history":[{"count":2,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/6782\/revisions"}],"predecessor-version":[{"id":7203,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/6782\/revisions\/7203"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media\/6783"}],"wp:attachment":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media?parent=6782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/categories?post=6782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/tags?post=6782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}