Despite massive disruption to in-person learning protocols, demand for off-campus, purpose-built student housing remains strong
SANTA BARBARA, Calif., October 14, 2020 – Despite massive disruption to in-person learning protocols, demand for off-campus, purpose-built student housing remains strong, according to a new bulletin on the sector from Yardi® Matrix.
In addition to the white paper, Matrix experts this week delivered a webinar on the state of the student housing sector and expectations for the year ahead. Noting that preleasing numbers remain strong even for campuses with online-only classes this fall, the sector continues to perform very well.
“College students don’t want to live at home. And their parents seem quite amenable, if financial circumstances allow it, for them not to live at home,” said Jeff Adler, vice president of Yardi Matrix, during the webinar. “There’s been a tremendous amount of noise around the sector, but as it relates to the financial performance of off campus student housing, it is largely unaffected.”
Enrollment trends have favored public universities rather than private schools, indicating that students may be looking for more affordable education alternatives given current economic uncertainty. And off-campus housing options provide a more continuous housing option than on-campus dorms, which are more likely to be subject to closures or status changes. For the 200 colleges and universities the Matrix team analyzed, preleasing of purpose-built student housing was just 3 percent behind that of 2019.
“While demand has been volatile on a university-by-university basis, the willingness and desire for people to congregate near their school will likely help the student housing sector steer through these uncertain times,” states the analysis. Gain all the insights in this special bulletin from industry data leader Yardi Matrix.
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