Pre-leasing at Yardi 200 schools reached 73.5 percent in April, exceeding last year's rate by 50 basis points, while rent growth stood at 5.5 percent, according to a Yardi Matrix National Student Housing Report.
As of April, the average rent reached $895 per bedroom, unchanged from the previous month and 5.5 percent higher year-over-year. Similar to the pre-leasing rate's evolution, rent growth has slowed from the beginning of the leasing season but is still above the average growth rate of 3.5 percent.
Rent growth slowed from 6.8 percent early on in the leasing season and has averaged 6 percent throughout the leasing season to date.
A total of 35 U.S. markets saw double-digit rent growth, while 23 posted rent declines. State schools across the Sun Belt with growing enrollments have seen the biggest jumps in rents.
Pre-leasing has lately be
