Student housing on track for a solid 2023/2024, Yardi Matrix reports
The student housing sector continues to record strong rent growth and preleasing performance is up slightly over 2022, according to the latest National Student Housing Report from Yardi Matrix.
As of June, 86.6 percent of beds at Yardi 200 universities were preleased for the upcoming fall term, a 5.2 percent increase from the prior month. June also marked the fifth consecutive month of annual rent growth above 7 percent at Yardi 200 universities, at 7.2 percent.
Given that 2022 held the previous rent record for student housing, obtaining more than 7 percent growth off of previous record-high numbers is exceptional, noted Yardi. The average rent per bed at Yardi 200 universities was $846 at quarter-end, an all-time record.
"Under the surface of solid overall fundamentals at the Yardi 200 level is mixed performance at individual schools, as som