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Preleasing Starts Strong for Student Housing, but Rent Growth Continues Slide
Early preleasing data for the 2026–2027 academic year points to another solid start to the student housing leasing season, Yardi Matrix reported. It reached 52.3% in January 2026, compared to an estimated 45.6% in January 2025. However, the latest Student Housing National Report shows pre-leasing performance varying widely by market.
In January, 64 schools in the Yardi 200 were 10% or more ahead of last year, including Georgia Tech, the University of Illinois, Virginia Tech and Auburn. Conversely, 28 schools were more than 10% behind last year, including Purdue, Indiana University and the University of Tennessee, all of which have absorbed
significant new supply in recent years and will continue to see additional deliveries.
Yardi Matrix also reported that rent growth continued the long-term deceleration that began in fall 2023, with rents down 0.2% year-over-year in January 2026 versus 3.7% growth in January 2025 and 6.5% growth in January 2023 and 2024.
Rents per bed across the Yardi 200 averaged $915 in January and have remained flat since the
start of the leasing season in October 2025. As with preleasing, rent performance varies by school,
although far fewer markets are posting strong growth compared to last year
- ◦Lease
