{"id":8400,"date":"2025-02-05T11:07:41","date_gmt":"2025-02-05T11:07:41","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8400"},"modified":"2025-02-11T11:13:21","modified_gmt":"2025-02-11T11:13:21","slug":"new-report-highlights-student-housing-preleasing-and-rent-growth","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/new-report-highlights-student-housing-preleasing-and-rent-growth\/","title":{"rendered":"New Yardi Matrix Report Highlights Student Housing Preleasing and Rent Growth"},"content":{"rendered":"\n

Preleasing reached 47.1 percent in December 2024 across 200 surveyed schools<\/em><\/p>\n\n\n\n

SANTA BARBARA, Calif., Feb. 05, 2025<\/strong> \u2013 As of December 2024, preleasing across the Yardi\u00ae 200 schools reached 47.1 percent, according to a survey by Yardi\u00ae Matrix. Rent growth in December was well behind the last two years\u2019 pace, according to the latest Yardi Matrix National Student Housing Report<\/a>. The preleasing pace will likely slow as the leasing season unfolds and more data is collected. Fifty-five schools reached 50 percent preleased as of December, with 14 hitting the 75 percent mark. By contrast, 42 schools were less than 25 percent preleased in December.<\/p>\n\n\n\n

The average advertised rent per bedroom climbed to $909 in December, marking the highest average student housing rent ever recorded. Rents inched up 1.5 percent in the first three months of the leasing season, following 4.6 percent growth during the previous year. The top 10 markets for rent growth averaged a preleasing rate of 56.3 percent, while the 10 markets with the largest declines average 32.8 percent preleased that month.<\/p>\n\n\n\n

\u201cRent growth for the Yardi 200 was 3.8 percent year-over-year in December and has averaged 4.3 percent since October as operators have been more conservative pushing rents. Rent growth in markets with four or more properties has ranged from -17.7 percent at UC Berkeley, which has been inundated with new supply, to 14.4 percent at Auburn University, which has seen a sharp turnaround in performance in recent years,\u201d state Matrix analysts.<\/p>\n\n\n\n

The new supply of dedicated student housing properties has been dropping. Last year, the number of new beds totaled 35,703 new beds. By comparison, in 2023 developers brought online a total of 44,746 beds.<\/p>\n\n\n\n

During the fourth quarter of last year, 28 student housing properties changed hands, bringing 2024\u2019s total number of transactions to 129, exceeding by 50 the total deal volume recorded in 2023 and well above the pre-pandemic averages of 2021 and 2022. Prices also surged in 2024, reaching more than $101,000 per bedroom.<\/p>\n\n\n\n

Gain more insight from the new Yardi Matrix National Student Housing Report<\/a>.\u00a0<\/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><\/p>\n\n\n\n

Yardi\u00ae<\/em> develops industry-leading software for all types and sizes of real estate companies across the world. With over 9,500 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":"

Preleasing reached 47.1 percent in December 2024 across 200 surveyed schools SANTA BARBARA, Calif., Feb. 05, 2025 \u2013 As of December 2024, preleasing across the Yardi\u00ae 200 schools reached 47.1 percent, according to a survey by Yardi\u00ae Matrix. Rent growth in December was well behind the last two years\u2019 pace, according to the latest Yardi […]<\/p>\n","protected":false},"author":753,"featured_media":8401,"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-8400","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-press-releases","tag-student-housing-outlook"],"yoast_head":"\nNew Yardi Matrix Report Highlights Student Housing Preleasing and Rent Growth - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Preleasing reached 47.1 percent in December 2024 across 200 surveyed schools, according to the latest Yardi Matrix report.\" \/>\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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