{"id":7948,"date":"2024-10-24T09:05:36","date_gmt":"2024-10-24T09:05:36","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=7948"},"modified":"2024-11-07T07:13:10","modified_gmt":"2024-11-07T07:13:10","slug":"fall-2024-preleasing-peaked-at-94-5-percent","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/fall-2024-preleasing-peaked-at-94-5-percent\/","title":{"rendered":"Fall 2024 Preleasing Peaked at 94.5 Percent, Reports Yardi Matrix"},"content":{"rendered":"\n

Final surveyed preleasing for the Yardi 200 schools was only 10 basis points behind September 2023 occupancy<\/em><\/p>\n\n\n\n

(SANTA BARBARA, Calif., October 24, 2024<\/strong>) \u2013 Surveyed preleasing at Yardi 200 schools settled at 94.5 percent in September, down only 10 basis points year-over-year, while rent growth cooled to 4.2 percent, according to the latest Yardi\u00ae Matrix National Student Housing Report<\/a>.<\/strong>\u00a0<\/p>\n\n\n\n

The preleasing pace has decelerated throughout the 2023-2024 leasing season, but settled close to last year\u2019s final figures. Preleasing for the Fall 2025 school year recorded a quick head-start, reaching 10.2 percent in September, based on limited data.<\/p>\n\n\n\n

By September, 50 schools hit at least 99 percent occupancy across Yardi 200 universities, with the largest markets in this category including Illinois State, Ole Miss, Oklahoma State, Oklahoma, James Madison, Purdue and Virginia Tech. On the other hand, 21 schools were less than 85 percent preleased, the list comprising East Carolina (85 percent), UC-Berkeley (84.9 percent), Temple (84.8 percent) and Washington State (81.3 percent).<\/p>\n\n\n\n

The average advertised rent per bedroom fell from $901 in May to $896 in September, taking the annual rent growth to 4.2 percent as of September and averaging 5.8 percent for the entire season. A total of 32 schools averaged at least 10 percent annual rent growth for the season, including Clemson (14.5 percent), Ohio State (14.1 percent), Purdue (13.5 percent) and Kentucky (13 percent).<\/p>\n\n\n\n

\u201cSome of the schools with double-digit rent growth have a meaningful amount of supply under construction, which could make a dent in the supply-demand imbalance that led to outsized rent growth, although not all of this supply will deliver next year. This includes Tennessee (3,371 beds under construction), San Jose State (1,610 beds), Ohio State (1,220 beds), Purdue (1,371 beds), North Texas (1,338 beds), Connecticut (1,137 beds) and NC State (1,926 beds), \u201cstate Matrix analysts. <\/p>\n\n\n\n

In line with properties stabilizing their occupancies for the Fall 2024 season, student housing investment picked up pace during the past few months. Roughly 39,000 beds changed hands year-to-date through September, marking a 10 percent decrease year-over-year.<\/p>\n\n\n\n

Gain more insight in the new\u202fYardi Matrix National Student Housing Report<\/a>. <\/p>\n\n\n\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 or visit yardimatrix.com<\/a> to learn more.<\/p>\n\n\n\n

About Yardi<\/strong> 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 yardi.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Final surveyed preleasing for the Yardi 200 schools was only 10 basis points behind September 2023 occupancy (SANTA BARBARA, Calif., October 24, 2024) \u2013 Surveyed preleasing at Yardi 200 schools settled at 94.5 percent in September, down only 10 basis points year-over-year, while rent growth cooled to 4.2 percent, according to the latest Yardi\u00ae Matrix […]<\/p>\n","protected":false},"author":753,"featured_media":7969,"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-7948","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-press-releases","tag-student-housing-outlook"],"yoast_head":"\nFall 2024 Preleasing Peaked at 94.5 Percent, Reports Yardi Matrix - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Final surveyed preleasing for the 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