Pre-let rate at 87.2 and rental growth of 5% impress analysts
SANTA BARBARA, Calif., July 26, 2022 /PRNewswire/ — The student housing sector continued to set records in the second quarter of 2022, according to the new Quarterly National Student Housing Report from Yardi® Matrix.
An 87.2% pre-lease rate and 5% rent growth in June were the highest Matrix researchers have seen so far for Yardi 200 universities, and deal activity remains high despite rising interest rates. The pre-lease rate is 10.1% higher than last year and 7.7% higher than 2019 before the pandemic.
“With rental season just months away, we expect Yardi 200 universities to start the fall term with record occupancy,” Matrix analysts said. The Yardi Matrix student housing dataset includes over 2,000 universities and colleges nationwide, including the top 200 investment universities in all major college conferences. Known as the “Yardi 200”, it includes all Power 5 conferences as well as Carnegie R1 and R2 universities.
“Confidence in the sector abounds as we head into the fall semester, and earlier concerns about headwinds have largely dissipated,” Matrix analysts say in the new report.
While some university sectors are seeing declining post-secondary enrolment, the losses have mostly been in community colleges and smaller schools rather than competitive flagship private and public universities. Fears that online learning would divert students from campus have also proven to be unwarranted, as students have a strong preference for attending university in person.
Learn more about student housing expectations by downloading 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.
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