Student housing preleasing stays flat as rent growth cools
Student housing preleasing reached 67% in March 2025, according to the latest Yardi Matrix Student Housing National Report. This preleasing level for Yardi 200 schools is just behind the level reported a year ago, with rent growth decelerating to 2.5 percent.
Preleasing Stays Flat as Rent Growth Cools
Rent growth has averaged 3.9% this leasing season, compared to 5.8% in 2023–2024 and 7% in 2022–2023, according to the report. The average advertised rent was $918 in March 2025—the lowest month for rent growth since July 2021.
"Average rent growth of 2.5% in March 2025 was down 90 basis points from 3.4% in February, the greatest month-over-month decline in the growth rate in the last six years," the report states.
Thirty-four universities (like Virginia Tech, Alabama, and Kentucky) were over 80% preleased in March, while 41 markets (including Utah Valley, UNC-Greensboro, and the University of Houston) were less than 50% preleased.
Click here to read the full Yardi Matrix report.
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Quinn PurcellQuinn Purcell
Quinn Purcell is the Managing Editor for Building Design+Construction. Covering the building industry for over four years, he has contributed to several award-winning industry reports, physical/digital magazines, and online news coverage. Quinn delivers content ranging from multifamily housing, technology, sustainability, and more.
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