{"id":7183,"date":"2024-02-21T12:27:00","date_gmt":"2024-02-21T12:27:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=7183"},"modified":"2024-03-26T14:14:11","modified_gmt":"2024-03-26T14:14:11","slug":"february-2024-student-housing-market-report","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/february-2024-student-housing-market-report\/","title":{"rendered":"Student Housing Market Report \u2013 February 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<h2>Report highlights<\/h2>\n<ul>\n<li>Preleasing for the 2024-2025 school year reached new highs, hitting 54.5% in January<\/li>\n<li>The average asking rate clocked in at $863 per bed that same month, while rent growth continued to slow<\/li>\n<li>Preliminary data points toward a 0.8 percent increase in enrollment across Yardi 200 schools<\/li>\n<li>Investment activity remains well below 2021 and 2022 levels, with 76 properties sold in 2023<\/li>\n<\/ul>\n<h2>Strong demand pushes preleasing above 50%<\/h2>\n<p>With operators starting preleasing earlier each year and most universities registering a growth in enrollment, demand in the sector soared, according to the latest Yardi Matrix student housing market report. Based on data gathered from 165 schools, total enrollment for the 2023-2024 school year was up 0.8% compared to the previous year.<\/p>\n<p><iframe id=\"datawrapper-chart-9bb77\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Student Housing Preleasing and Rent Growth \" src=\"https:\/\/datawrapper.dwcdn.net\/9bb77\/1\/\" height=\"476\" 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>While most student housing fundamentals are performing extremely well, investment numbers\u2014in line with a general trend within the real estate sector\u2014were depressed. Due to the current unfavorable economic environment for transactions, only 76 properties changed hands, half of the previous five year\u2019s average.<\/p>\n<p>As of January, the average preleasing rate at Yardi 200 schools reached 54.5%, up 7.1% since the same period last year and 15% higher than the five-year average. A total of 51 schools had a preleasing rate that exceeded 60% in January, compared to only 28 at the same point last year.<\/p>\n<p>A cluster of 12 universities were more than 80% preleased, including University of Tennessee, University of Arkansas and Purdue. At the other end of the spectrum, 34 schools were less than 30% preleased\u2014a smaller number than last year\u2019s 50 markets. As of January 2024, the schools with the highest year-over-year growth in percentage preleased were University of Mississippi (47.8%), Binghamton University (39.1%) and Oregon State (27.5%).<\/p>\n<h2>Rents still high, while growth decreases<\/h2>\n<p>As of January, rents at Yardi 200 schools averaged $863 per bed, marking a 4.4% increase on a year-over-year basis. Rent growth decelerated, with the average asking rate only 0.1% higher than in December. The annual rent growth was down from 6.3% recorded a year ago and 6.5% at the beginning of the leasing season.<\/p>\n<p>A total of 24 universities had double-digit rent growth in January, while 32 posted rent growth of less than -0.5%. In general, markets with the biggest rent growth had also high enrollment growth and preleasing rates. Exceeding an 80% preleasing rate and 4% enrollment growth, the group of schools with the highest rent growth included Tennessee, Ole Miss, Purdue and Kentucky.<\/p>\n<p>Read the full\u00a0<a href=\"\/publications\/download\/file\/5206-MatrixStudentHousingNationalReport-February2024\"><strong>Matrix Student Housing Report-February 2024<\/strong><\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Report highlights Preleasing for the 2024-2025 school year reached new highs, hitting 54.5% in January The average asking rate clocked in at $863 per bed that same month, while rent growth continued to slow Preliminary data points toward a 0.8 percent increase in enrollment across Yardi 200 schools Investment activity remains well below 2021 and [&hellip;]<\/p>\n","protected":false},"author":753,"featured_media":6824,"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-7183","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>Student Housing Market Report \u2013 February 2024 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Preleasing reached 54.5% in January 2024, 7.1% ahead of January 2023, while rent growth slowed but remains still solid at 4.4%.\" \/>\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\/february-2024-student-housing-market-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Student Housing Market Report \u2013 February 2024\" \/>\n<meta property=\"og:description\" content=\"Preleasing reached 54.5% in January 2024, 7.1% ahead of January 2023, while rent growth slowed but remains still solid at 4.4%.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/february-2024-student-housing-market-report\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-21T12:27:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-26T14:14:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/02\/student-housing-february-2024-e1708518044893.png?w=990\" \/>\n\t<meta property=\"og:image:width\" content=\"990\" \/>\n\t<meta property=\"og:image:height\" content=\"519\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\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":"Student Housing Market Report \u2013 February 2024 - Yardi Matrix Blog","description":"Preleasing reached 54.5% in January 2024, 7.1% ahead of January 2023, while rent growth slowed but remains still solid at 4.4%.","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\/february-2024-student-housing-market-report\/","og_locale":"en_US","og_type":"article","og_title":"Student Housing Market Report \u2013 February 2024","og_description":"Preleasing reached 54.5% in January 2024, 7.1% ahead of January 2023, while rent growth slowed but remains still solid at 4.4%.","og_url":"https:\/\/www.yardimatrix.com\/blog\/february-2024-student-housing-market-report\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2024-02-21T12:27:00+00:00","article_modified_time":"2024-03-26T14:14:11+00:00","og_image":[{"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/02\/student-housing-february-2024-e1708518044893.png?w=990","width":990,"height":519,"type":"image\/png"}],"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\/february-2024-student-housing-market-report\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/february-2024-student-housing-market-report\/"},"author":{"name":"Razvan Cimpean","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/694c0c0a53e89aa8de1e53ff8201b3b6"},"headline":"Student Housing Market Report \u2013 February 2024","datePublished":"2024-02-21T12:27:00+00:00","dateModified":"2024-03-26T14:14:11+00:00","mainEntityOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/february-2024-student-housing-market-report\/"},"wordCount":383,"commentCount":0,"publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/february-2024-student-housing-market-report\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/02\/student-housing-february-2024-e1708518044893.png","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\/february-2024-student-housing-market-report\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.yardimatrix.com\/blog\/february-2024-student-housing-market-report\/","url":"https:\/\/www.yardimatrix.com\/blog\/february-2024-student-housing-market-report\/","name":"Student Housing Market Report \u2013 February 2024 - Yardi Matrix Blog","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/february-2024-student-housing-market-report\/#primaryimage"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/february-2024-student-housing-market-report\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/02\/student-housing-february-2024-e1708518044893.png","datePublished":"2024-02-21T12:27:00+00:00","dateModified":"2024-03-26T14:14:11+00:00","description":"Preleasing reached 54.5% in January 2024, 7.1% ahead of January 2023, while rent growth slowed but remains still solid at 4.4%.","breadcrumb":{"@id":"https:\/\/www.yardimatrix.com\/blog\/february-2024-student-housing-market-report\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardimatrix.com\/blog\/february-2024-student-housing-market-report\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/february-2024-student-housing-market-report\/#primaryimage","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/02\/student-housing-february-2024-e1708518044893.png","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/02\/student-housing-february-2024-e1708518044893.png","width":990,"height":519,"caption":"Photo by Jovanmandic\/iStockphoto.com"},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardimatrix.com\/blog\/february-2024-student-housing-market-report\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardimatrix.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Student Housing Market Report \u2013 February 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\/student-housing-february-2024-e1708518044893.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/7183","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=7183"}],"version-history":[{"count":1,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/7183\/revisions"}],"predecessor-version":[{"id":7185,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/7183\/revisions\/7185"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media\/6824"}],"wp:attachment":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media?parent=7183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/categories?post=7183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/tags?post=7183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}