Yardi Matrix Report Shows Student Housing Market Holding Its Own

Advertised rental rates, preleasing rose year over year in April

SANTA BARBARA, CALIF., May 7, 2025 – Analysis by Yardi® Matrix indicates that long-term fundamentals in U.S. student housing remain strong as the market awaits the impact of federal policy changes and a clouded national economic outlook.

A new national student housing report from Yardi Matrix notes that while advertised rental rates for the Yardi 200 schools increased by 2% year-over-year in April 2025, rents fell month-over-month for the first time since August 2024. Preleasing at the Yardi 200 averaged 73.2% for the month, 140 basis points higher than in April 2024.

School housing operators “are reporting a more challenging lease-up season, and they have had to drop rates to fill beds” in an increasingly competitive environment, the report notes. Meanwhile, industry leaders attending the recent InterFace Student Housing conference in Austin, Texas, expressed concern over “near-term uncertainty driven by tariffs, ongoing immigration and university funding changes, and recession fears.”

Get details on preleasing, rental rates, transactions and more in the  Yardi Matrix national student housing report for May 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, affordable, 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.

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Yardi® develops industry-leading software for all types and sizes of real estate companies across the world. With more than 10,000 employees, Yardi is working with our clients to drive significant innovation in the real estate industry. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.