Preleasing and rent growth for the fall 2021 term is on the upswing
SANTA BARBARA, Calif., Jan. 10, 2022 – According to the latest Yardi® Matrix National Student Housing Report, sector fundamentals remain strong as preleasing for Fall 2022 ramps up.
Despite concerns about its performance during the COVID-19 pandemic, student housing has shown significant resiliency over the last two years.
“Preleasing and rent growth for the fall 2021 term ended on a positive note, and fundamentals continue to look healthy as preleasing for the Fall 2022 term is underway,” states the new report.
The Yardi 200 ended the Fall 2021 preleasing period in September at 94.3 percent, up 5.2 percent from Fall 2020. Preleasing for the Fall 2022 term is already underway, at 26.7 percent as of November, up from 15.4 percent compared to the same time the previous year.
The average rent per bedroom for Yardi 200 universities was $791 as of December, up 2.2 percent over the previous year and 0.3 percent over the previous month. Matrix analysts expect preleasing and rent growth will increase modestly as the spring approaches.
Yardi Matrix covers multifamily, student housing, industrial, office and self storage property types. Email [email protected], call (480) 663-1149 or visit yardimatrix.com to learn more.
Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.