{"id":7388,"date":"2024-05-08T13:30:09","date_gmt":"2024-05-08T13:30:09","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=7388"},"modified":"2024-05-16T13:42:52","modified_gmt":"2024-05-16T13:42:52","slug":"student-housing-preleasing-rent-growth-slow-in-april","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/student-housing-preleasing-rent-growth-slow-in-april\/","title":{"rendered":"Student Housing Preleasing, Rent Growth Slow in April, Yardi Matrix Reports"},"content":{"rendered":"

The 2024-2025 leasing season continues to be one of the best yet<\/em><\/p>\n

(SANTA BARBARA, Calif., May 8, 2024<\/strong>) \u2013 Preleasing at Yardi 200 schools reached 73.5 percent in April, exceeding last year\u2019s rate by 50 basis points, while rent growth stood at 5.5 percent, according to the latest Yardi\u00ae Matrix National Student Housing Report<\/a>.<\/strong><\/p>\n

As of April, the average rent reached $895 per bedroom, unchanged from the previous month and 5.5 percent higher year-over-year. Similar to the preleasing rate\u2019s evolution, rent growth has slowed from the beginning of the leasing season, but is still above the average growth rate of 3.5 percent.<\/p>\n

Rent growth slowed from 6.8 percent early on in the leasing season and has averaged six percent throughout the leasing season to date.<\/p>\n

A total of 35 U.S. markets saw double digit rent growth, while 23 posted rent declines. State schools across the Sun Belt with growing enrollments have seen the biggest jumps in rents.<\/p>\n

Preleasing has lately been trending in line with last year. A total of 19 schools were at least 90 percent preleased as of April, including Ole Miss (100 percent), Kentucky (93.3 percent), Purdue (93 percent) and James Madison (92.5 percent). But 22 universities didn\u2019t reach a 50 percent preleasing rate, such as UT\u2013Arlington and Georgia State.<\/p>\n

\u201cStrong rent growth is indicative of solid demand for product and consolidation of higher education into the largest student housing markets, as primary state schools have been able to outgrow their peers,\u201d state Matrix analysts.<\/p>\n

Student housing investment has been on par with last year, with 18 properties changing hands year-to-date through April. The average price per bed stood at $100,857\u2014well ahead of previous years.<\/p>\n

Gain more insight on leasing, rents and investment in the new\u202fYardi Matrix National Student Housing Report.<\/a><\/strong><\/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\u00a0matrix@yardi.com<\/a>, call 480-663-1149 or visit\u00a0yardimatrix.com<\/a>\u00a0to learn more.<\/p>\n

About Yardi<\/strong><\/p>\n

Celebrating its 40-year anniversary in 2024, 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\u00a0yardi.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The 2024-2025 leasing season continues to be one of the best yet (SANTA BARBARA, Calif., May 8, 2024) \u2013 Preleasing at Yardi 200 schools reached 73.5 percent in April, exceeding last year\u2019s rate by 50 basis points, while rent growth stood at 5.5 percent, according to the latest Yardi\u00ae Matrix National Student Housing Report. As […]<\/p>\n","protected":false},"author":753,"featured_media":7389,"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-7388","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-press-releases","tag-student-housing-outlook"],"yoast_head":"\nStudent Housing Preleasing, Rent Growth Slow in April, Yardi Matrix Reports - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"The 2024-2025 leasing season continues to be one of the best yet, according to the latest Yardi Matrix national report.\" \/>\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-preleasing-rent-growth-slow-in-april\/\" \/>\n<meta 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