{"id":8286,"date":"2024-10-22T11:35:00","date_gmt":"2024-10-22T11:35:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8286"},"modified":"2025-02-07T14:14:05","modified_gmt":"2025-02-07T14:14:05","slug":"student-housing-market-report-october-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/student-housing-market-report-october-2024\/","title":{"rendered":"Student Housing Market Report \u2013 October 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\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide\"\/>\n\n\n\n<p><em>Surveyed preleasing settled at 94.5% in September, according to the latest Yardi Matrix national student housing market report.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-report-highlights\">Report highlights<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Preleasing for the Fall 2024 leasing season hit 94.5% in September, marking a 10-basis-point decrease year-over-year<\/li>\n\n\n\n<li>The average advertised rent per bed reached $896 that same month, while rent growth fell to 4.2%<\/li>\n\n\n\n<li>Yardi Matrix predicts that a total of 41,432 beds will come online at Yardi 200 schools in 2024<\/li>\n\n\n\n<li>Year-to-date through September, roughly 39,000 beds changed hands, down 10% since September 2023<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-more-than-half-of-schools-hit-the-95-preleased-mark\">More than half of schools hit the 95% preleased mark<\/h2>\n\n\n\n<p>Occupancy for the 2024-2025 season across student housing properties settled 94.5% in September, only 10 basis points lower than at the same point last year. Preliminary data for the new leasing season points toward a good head start, averaging 10.2% preleased and four schools already hitting 25 percent occupancy in September.<\/p>\n\n\n<p><iframe title=\"Student Housing Preleasing and Rent Growth\" aria-label=\"Table\" id=\"datawrapper-chart-bgHZn\" src=\"https:\/\/datawrapper.dwcdn.net\/bgHZn\/1\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"561\" 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\n\n<p>A total of 50 schools reached at least 99% occupancy by September, the largest markets being Illinois State, Ole Miss, Oklahoma State, Oklahoma, James Madison, Purdue and Virginia Tech, among others.<\/p>\n\n\n\n<p>At the other end of the spectrum, 21 schools achieved less than 85% occupancy, including East Carolina (85%), UC-Berkeley (84.9%), Temple (84.8%), Washington State (81.3%), Drexel\/Penn (77.8%) and Cincinnati (72.5%).<\/p>\n\n\n\n<p>Yardi Matrix\u2019s supply forecast predicts that in 2024 a total of 41,432 will be delivered at Yardi 200 schools, which would mark a 5% decrease compared to last year.<\/p>\n\n\n\n<p>Year-to-date through September, about 39,000 beds changed hands at Yardi 200 schools. The sales volume is still 10% behind the one registered in the same timeframe in 2023 and 8% behind the average for 2017-2019.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-rent-growth-decreases-to-4-2\">Rent growth decreases to 4.2%<\/h2>\n\n\n\n<p>During the last months of the 2024-2025 leasing season the average advertised rent per bed fell from a maximum of $901 in May, to $896 in September. That month, the year-over-year rent growth also continued its downward trend and reached 4.1%, while averaging 5.8% for the entire leasing season.<\/p>\n\n\n\n<p>Many markets which registered the biggest rent growths in September have also showed strong enrollment increases in the past few years, coupled with fast-paced lease-up in 2023-2024.<\/p>\n\n\n\n<p>A total of 32 schools hit a minimum of 10% rent growth for the Fall 2024 season, including Tennessee (21.2% trailing 12-month average rent growth), Clemson (14.5%), Ohio State (14.1%), Purdue (13.5%) and Kentucky (13%). Nevertheless, 22 markets had negative annual rent changes, notably Washington (-1.5%) and Minnesota (-1.8%).<\/p>\n\n\n\n<p>Read the full Yardi Matrix National Student Housing Market Report:&nbsp;<a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/6353-MatrixStudentHousingNationalReport-October2024\"><strong>October 2024<\/strong><\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Surveyed preleasing settled at 94.5% in September, according to the latest Yardi Matrix national student housing market report. Report highlights More than half of schools hit the 95% preleased mark Occupancy for the 2024-2025 season across student housing properties settled 94.5% in September, only 10 basis points lower than at the same point last year. [&hellip;]<\/p>\n","protected":false},"author":739,"featured_media":7928,"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-8286","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 October 2024 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"The industry wrapped up a stellar leasing season with more than half of the Yardi 200 schools achieving at least 95% occupancy.\" \/>\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-october-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 October 2024\" \/>\n<meta property=\"og:description\" content=\"The industry wrapped up a stellar leasing season with more than half of the Yardi 200 schools achieving at least 95% occupancy.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/student-housing-market-report-october-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-22T11:35:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-07T14:14:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/10\/student-housing-october.png\" \/>\n\t<meta property=\"og:image:width\" content=\"928\" \/>\n\t<meta property=\"og:image:height\" content=\"687\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\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 October 2024 - 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