Matrix Student Housing National Report-June 2025

Preleasing Stays On Pace, Rent Growth Stalls

Preleasing at Yardi 200 schools reached 79.9% in May 2025, slightly ahead of last year. However, rent growth has stalled at 2.1%, its lowest rate since 2021. Operators are filling beds but struggling to push rates higher, especially in larger, oversupplied markets or urban markets with competition from a weakened conventional multifamily market. Enrollment growth faces mounting headwinds from demographic shifts, funding risks and international visa issues.

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