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Student Housing Deliveries Expected to Rebound from Fall 2022’s Low Point
Although student housing deliveries fell to an abnormally low rate in Fall 2022, the coming school year should see a return to more usual completion volumes, according to RealPage. Just 30,000 new student beds were delivered in the Fall 2022 school year, representing the slowest pace since at least the Great Recession. For Fall 2023, construction is scheduled to increase to nearly 40,000 beds.
While scheduled supply for Fall 2023 is still roughly 20% below the pre-pandemic average, it’s a step up from Fall 2022 levels. Additionally, says RealPage, “early indicators point to more of the same in Fall 2024.”
Led by Georgia Tech with 2,865 beds slated for delivery, the scheduled deliveries in Fall 2023 are focused in flagship state universities that tend to reappear on the leaderboard for student housing construction leaders. The majority of schools with 1,000 beds or more expected next year are located in the urban cores of large metro areas.
- ◦Development
