{"id":7508,"date":"2024-06-14T10:12:25","date_gmt":"2024-06-14T10:12:25","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=7508"},"modified":"2024-06-14T10:12:27","modified_gmt":"2024-06-14T10:12:27","slug":"student-housing-preleasing-at-record-pace-but-slowing","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/student-housing-preleasing-at-record-pace-but-slowing\/","title":{"rendered":"Student Housing Preleasing at Record Pace but Slowing, Yardi Matrix Reports"},"content":{"rendered":"

College and University preleasing nearing completion, remains strong<\/em><\/p>\n

SANTA BARBARA, Calif., June 14, 2024<\/strong>\u00a0\u2013 Preleasing at the Yardi 200 reached 80 percent in May, still slightly above last year\u2019s rate, according to the latest Yardi\u00ae<\/sup> Matrix National Student Housing Report<\/strong><\/a>.<\/p>\n

As of May, the average published asking rent\u00a0reached $897 per bed, which was 5.3 percent higher on a year-over-year basis. May\u2019s average rent per bed marks an all-time high for the student housing sector, but growth rates have recently been decelerating, according to Matrix analysis.<\/p>\n

Last month, 41 markets\u00a0recorded rent growth in the double-digits. However, 34 saw rent declines year-over-year, showcasing disparate sector performance.<\/p>\n

On the preleasing front, five schools tracked by Matrix have completed preleasing for the upcoming school year, while another 34 have crossed the 90 percent mark. These high-preleasing rate schools have generally seen an upward trend in advertised rents.<\/p>\n

Despite the high preleasing rates at some schools, potential enrollment challenges connected to an overhaul of the federal student aid process are beginning to become evident and may impact the demand for student housing.<\/p>\n

\u201cThere are growing expectations that issues with FAFSA filing will impact incoming freshman enrollments this year. Nearly 10 percent fewer members of the high school senior class of 2024 completed the forms as of May, compared to the senior class of 2023. Many experts expect this to impact enrollment growth this year and beyond,\u201d states the new report.<\/p>\n

The student housing data set includes over 2,000 universities and colleges nationwide, including the top 200 investment grade universities across all major collegiate conferences. Known as the \u201cYardi 200,\u201d it includes all Power 5 conferences as well as Carnegie R1 and R2 universities.<\/p>\n

Gain more insight in the new Yardi Matrix National 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<\/a> or visit yardimatrix.com to learn more.<\/p>\n

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

Celebrating its 40-year anniversary in 2024, Yardi\u00ae<\/sup> 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":"

College and University preleasing nearing completion, remains strong SANTA BARBARA, Calif., June 14, 2024\u00a0\u2013 Preleasing at the Yardi 200 reached 80 percent in May, still slightly above last year\u2019s rate, according to the latest Yardi\u00ae Matrix National Student Housing Report. As of May, the average published asking rent\u00a0reached $897 per bed, which was 5.3 percent […]<\/p>\n","protected":false},"author":753,"featured_media":7509,"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-7508","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 at Record Pace but Slowing, Yardi Matrix Reports - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"College and University preleasing nearing completion, remains strong, according to the latest Yardi Matrix data.\" \/>\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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