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Student Housing Rents Continue Growth Over 2022 Record Highs
The student housing sector continues to record strong rent growth and preleasing performance is up slightly over 2022, according to the latest National Student Housing Report from Yardi Matrix. As of June, 86.6% of beds at Yardi 200 universities were preleased for the upcoming fall term, up 5.2% from May
June also marked the fifth consecutive month of annual rent growth over 7% at Yardi 200 universities, at 7.2%. Since 2022 held the previous rent record for student housing, obtaining more than 7% growth over previous record-high numbers is exceptional. The average rent per bed at Yardi 200 universities was $846 at quarter-end, a new all-time record.
“Under the surface of solid overall fundamentals at the Yardi 200 level is mixed performance at individual schools, as some universities are doing exceptionally well while others fall short,” according to the report. “Performance at the university level is mainly correlated to local supply-and-demand dynamics rather than higher-level trends.”
Pictured: Ohio University in Athens, OH posted the biggest year-over-year increase in preleasing, according to Yardi Matrix.
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