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Banner year for student housing records, Yardi Matrix reports

The fall 2022 pre-let period ended in September with almost 97% of rooms at Yardi 200 universities rented

SANTA BARBARA, Calif., October 24, 2022 /PRNewswire/ — The student housing sector continued to benefit from healthy demand and solid fundamentals to achieve another record performance in the third quarter and in 2022 as a whole, according to the new quarterly report. National Student Housing Report of the Yardi® matrix.

The fall 2022 pre-let period ended in September with 96.6% of rooms at Yardi 200 universities rented. Annual rent growth was 4.1% in September.

The pace of pre-rental was faster for selective universities with higher enrollment. But the positive performance was widespread among university types across the country. Twelve universities saw double-digit growth in pre-lease levels in September compared to 2021, with Washington State University (growth of 18.9%) and the University of Houston (16.4%) at the top of the list.

In some popular schools with growing enrollments, the supply of available student accommodation has not been sufficient to house the incoming class. A problem once unique to California the school has now become widespread.

“As student housing rent growth begins to slow, there is still a significant gap between student housing and multi-family rents, which could support continued growth over the next two years,” the report said. “The impact of multi-family rental trends on student housing will be strongest in university areas with a significant parallel market, given the availability of options within a close radius.”

High investment activity continues despite rising interest rates, and the new supply pipeline is strong. Learn more about student accommodation expectations in download the new report.

Yardi Matrix covers multi-family, student accommodation, industrial, office and self-storage property types. E-mail [email protected]call (480) 663-1149 or visit yardimatrix.com to learn more.

About Yardi

Yardi® develops and supports industry-leading real estate investment and management software for all types and sizes of real estate companies. With 8,000 employees, Yardi works with clients around the world to drive innovation in the real estate industry. For more information on how Yardi is energized for tomorrow, visit yardi.com.

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SOURCEYardi