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Questions around education funding and foreign student limitations portend headwinds
SANTA BARBARA, CALIF., June 17, 2025 – Preleasing at the Yardi® 200 schools recorded 1.5% year-over-year growth in May 2025, according to a new U.S. student housing report from Yardi® Matrix.
Estimated preleasing reached 79.9% for the Yardi 200 schools in May, 150 basis points ahead of the same period in 2024. “Many schools that struggled to lease up last year have experienced a turnaround,” including the University of Cincinnati, Penn, Drexel University and UC Berkeley, the report notes.
The 2.1% annual rent growth in May was the lowest increase since July 2021. Rent growth deceleration in 21 of the last 26 months reflects “a broader cooling trend also seen in conventional multifamily,” according to the report.
The $918 average advertised rent rate per bed in the Yardi 200 approached the record high of $919 in March 2025. Meanwhile, the student housing investment market is on pace with 2024, with 36 dedicated properties sold so far this year.
A declining number of high school graduates, potential reductions in higher-education funding and proposed limitations on international students allowed into U.S. universities represent potential headwinds for the student housing industry.
Read more about the latest student housing market fundamentals in the Yardi Matrix National Student Housing Report for June 2025.
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, single-family rentals/ build to rent, affordable housing, student housing, self storage, office, industrial, retail and vacant land property types. Email [email protected], call (480) 663-1149 or visit yardimatrix.com to learn more.
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