{"id":7934,"date":"2024-09-20T07:02:40","date_gmt":"2024-09-20T07:02:40","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=7934"},"modified":"2024-10-23T07:11:02","modified_gmt":"2024-10-23T07:11:02","slug":"student-housing-market-report-september-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/student-housing-market-report-september-2024\/","title":{"rendered":"Student Housing Market Report \u2013 September 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<p><em>Surveyed preleasing reached 92.9% in August, according to the latest Yardi Matrix national student housing market report.<\/em><\/p>\n<h2>Report highlights<\/h2>\n<ul>\n<li>Surveyed preleasing for the Yardi 200 schools clocked in at 92.9% as of August, 20 basis points higher than in August 2023<\/li>\n<li>The average advertised rent per bed hit $897, marking a 4.0% increase year-over-year<\/li>\n<li>The supply forecast predicts that 41,432 beds will be delivered this year, 5% less than last year\u2019s volume<\/li>\n<\/ul>\n<h2>Preleasing, rent growth inch toward finish<\/h2>\n<p>Surveyed preleasing for Yardi 200 schools reached 92.9% in August 2024, marking a 20-basis-point increase year-over-year. Rent growth continued to decrease and hit 4% that month, further lowering the season\u2019s average to 5.8% since October 2023.<\/p>\n<p><iframe id=\"datawrapper-chart-cdcC1\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Student Housing Preleasing and Rent Growth \" src=\"https:\/\/datawrapper.dwcdn.net\/cdcC1\/1\/\" height=\"527\" 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>As of August, a total of 78 universities had already reached or exceeded September 2023 occupancy, while 29 schools were 10% or more behind that figure. Experts predict that delayed FAFSA processing in spring has set back enrollment rates, interfering with and slowing the exceptionally strong preleasing recorded at the beginning of the season.<\/p>\n<p>A total of 35 schools reached a minimum of 99% preleased at the end of August, the list comprising Oklahoma State, Ohio, Oregon State, VCU, Auburn and Illinois State. At the other end of the spectrum, 35 universities were less than 85% preleased at that same point in time, including UNC-Charlotte (84.4%), Temple (82.9%), East Carolina (82.3%), Miami-Oxford (80.2%) and UT-Arlington (78.4%).<\/p>\n<p>The universities with the largest year-over-year growth in percentage preleased were the University of Nebraska (12.8%), Illinois State (11.6%) and University of Washington (11.3%).<\/p>\n<h2>Rent growth continues to decelerate<\/h2>\n<p>As of August, the average advertised rent per bedroom across Yardi 200 schools reached $892, marking a $5 decrease from the previous month and a 4% dip compared to August 2023. Rent growth reached its peak of 7% at the beginning of the leasing season and has gradually decreased in the past nine months.<\/p>\n<p>Across markets, rent growth ranged from UC-Berkeley\u2019s -12.8%\u2014 a market with the highest rents per bed across the nation at $2,542\u2014to Kennesaw State\u2019s 16.3%. As a general trend, the top 10 markets for rent growth had flat or increased enrollment numbers, averaging a 3.3% increase compared to 0.4% enrollment growth for Yardi 200 schools.<\/p>\n<p>Yardi Matrix\u2019s supply forecast predicts that in 2024, a total of 41,432 will be delivered at Yardi 200 schools, marking a 6% decrease from the previous forecast and 5% less than last year.<\/p>\n<p>Year-to-date through August, 56 properties consisting of 26,000 beds changed hands at Yardi 200 schools, at an average price per bed of roughly $77,000. The sales volume is still behind the previous five-year average of 86 properties sold.<\/p>\n<p>Read the full Yardi Matrix National Student Housing Market Report:\u00a0<a href=\"\/publications\/download\/file\/6212-MatrixStudentHousingNationalReport-September2024\" rel=\"\"><strong>September 2024<\/strong><\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Surveyed preleasing reached 92.9% in August, according to the latest Yardi Matrix national student housing market report. Report highlights Surveyed preleasing for the Yardi 200 schools clocked in at 92.9% as of August, 20 basis points higher than in August 2023 The average advertised rent per bed hit $897, marking a 4.0% increase year-over-year The [&hellip;]<\/p>\n","protected":false},"author":739,"featured_media":7796,"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-7934","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 September 2024 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Surveyed preleasing for the Yardi 200 reached 92.9% in August 2024, up 20 basis points YoY, as many markets welcomed student tenants back.\" \/>\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-market-report-september-2024\/\" \/>\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 September 2024\" \/>\n<meta property=\"og:description\" content=\"Surveyed preleasing for the Yardi 200 reached 92.9% in August 2024, up 20 basis points YoY, as many markets welcomed student tenants back.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/student-housing-market-report-september-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-20T07:02:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-23T07:11:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/08\/student-housing-iStock-1724367102.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=\"Beata Lorincz\" \/>\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=\"3 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Student Housing Market Report \u2013 September 2024 - 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