Preleasing Progress

2 percent in June, on par with last year’s pace and outpacing historic trends. The average advertised asking rent per bed stood at $898 last month, while year-over-year rent growth slowed to five percent, according to the latest Yardi Matrix National Student Housing Report.

Written by Leah Etling

07 / 24 / 24

2 min read

Surveyed preleasing at colleges and universities tracked by Yardi® reached 85.2 percent in June, on par with last year’s pace and outpacing historic trends.

The average advertised asking rent per bed stood at $898 last month, while year-over-year rent growth slowed to five percent, according to the latest Yardi Matrix National Student Housing Report. Averaging 6.1 percent asking rent growth for the season since October 2023, the Fall 2024 school year is shaping up to be one of the best for the student housing sector.

During the summer months, the pace of preleasing has slowed. Additionally, issues with FAFSA filing and processing pose a concern for near-term enrollment growth. Nevertheless, 39 universities were at least 94 percent preleased already, including 13 schools that reached at least 99.7 percent preleased.

A total of 41 universities posted double-digit rent growth in June. Large primary state schools like Tennessee and Purdue had the strongest rent growth. Smaller institutions such as Vermont (16.7 percent rent growth), San Jose State (15.8 percent), Oregon State (15.8 percent) and New Hampshire (15.6 percent), also stand out.

“Rent growth is most significantly impacted by preleasing and enrollment trends. The top four schools for rent growth were on average 93.4 percent preleased and experienced 4.7 percent enrollment growth in 2023, versus the bottom four which average 67.4 percent preleased.

Gain more insight in the new Yardi Matrix National Student Housing Report.

Yardi Matrix offers the industry’s most comprehensive market intelligence tool for investment professionals, equity investors, lenders and property managers who underwrite and manage investments in commercial real estate. Yardi Matrix covers multifamily, affordable housing student housing, vacant land, industrial, office, retail and self storage property types. Email [email protected], call 480-663-1149 or visit yardimatrix.com to learn more.

AUTHOR

Leah Etling is the founding editor of the Balance Sheet and a 12-year Yardi employee who also oversees press releases and social media. An award winning journalist, she holds a master's degree from UC Berkeley and is a native of Santa Barbara County, Yardi's home.

Recent articles

The 11 Yardi Voyager Residential questions property managers ask most

Yardi Voyager Residential is the residential edition of Yardi Voyager, a cloud-based property management platform that runs accounting, leasing, operations and reporting on a single database for multifamily, affordable housing, senior living, student housing, HOA and build-to-rent portfolios. This guide answers the 11 questions property managers ask most before adopting it.

10 / 30 / 26

Voyager Residential

Aspire

Welcome to the Yardi Senior CRM Road Show: Lessons, learning and more in six cities

Senior living CRM tips from operators on the road

Four senior living operators share CRM tips and results from the Yardi Senior CRM Road Show. See what they learned and get the free white paper.

10 / 30 / 26

Senior living

Events

Fall 2026 Aspire product update: New tools for every role

The Fall 2026 Aspire product updates bring a supervisor dashboard, a custom dashboard builder, a new learning plan experience, Open Threads and enhanced surveys and polling.

10 / 30 / 26

Multifamily

Affordable housing

Preleasing Progress

Leah Etling

Recent articles

The 11 Yardi Voyager Residential questions property managers ask most

Senior living CRM tips from operators on the road

Fall 2026 Aspire product update: New tools for every role

We’re here to help