
March 2026: Preleasing rises, rent growth decelerates
Preleasing for the Yardi 200 schools reached an estimated 58.6% in February 2026, exceeding the totals for the previous two Februarys. However, rent growth continued to decelerate over the month, with the $925-per-bed figure representing a year-over-year increase but trailing the January growth rate.
Normalization in progress
A new report from Yardi Matrix notes that despite solid enrollment growth in fall 2025 and relatively modest supply additions, “early indicators for the 2026-2027 academic year point to a normalization in performance following years of record growth.”
Factors driving this normalization include competition from a soft multifamily sector in some metros and a concentration of new deliveries in previously high-growth markets.
Supply drives rent growth & decline
Although rent growth has slowed across most markets, a few posted strong gains in February. The University of Mississippi recorded 10.6% growth, for example, and Oklahoma State University posted 9.8% growth. Other standouts include Auburn University and the University of Kansas.
On the other end of the scale, Purdue University, with more than 2,000 beds under construction and 1,400 completed over the past three years, saw rents decline by 8% in February. The University of Arizona, with consistent development over several years, saw a 6% drop. Other markets whose under-construction projects pushed rents downward include the University of Arkansas and Clemson University.
Learn more about the latest U.S. student housing supply and rent growth trends in the Yardi Matrix Student Housing National Report for March 2026.