The student housing sector continues to outperform as the Fall 2023 school year approaches, according to the August National Student Housing Report from Yardi Matrix.
As of July, 90.1 percent of beds at Yardi 200 universities were preleased for the upcoming fall term, a 4.6 percent increase from the prior month and about even with the past year.
Preleasing was near a record high for July, and year-over-year rent growth throughout the leasing season has been ahead of the previous year. The sector is equipped to handle economic challenges, with solid occupancy and rent growth for the 2023–2024 school year and counter-cyclical demand.
“Preleasing has slowed recently from rapid growth at the beginning of the leasing season. Month-over-month rent growth has also decelerated,” states the report. Despite the drop, fall occupancy is projecte