Student housing preleasing continues historic pace, reports Yardi Matrix

The average student housing preleasing rate for Yardi 200 schools reached 61.5 percent, marking an increase of 450 basis points year-over-year, according to the latest Yardi Matrix National Student Housing Report.

The market is healthy enough to absorb 46,000 new beds coming online, with demand fueled by enrollment growth. The average rent per bed reached $883 in February, showing a 5.2 percent increase since the same period in 2023. Year-over-year rent growth was down from the 6.7 percent recorded in October 2023.

A total of 16 universities were more than 80 percent preleased, including larger student markets like Ole Miss (98.7 percent), Purdue (88.7 percent), Tennessee-Knoxville (87.5 percent), Virginia Tech (87.2 percent) and Arkansas (86.8 percent). Only 35 schools were less than 40 percent preleased, compared to 47 percent in Februar