Student housing preleases soften, rent grows sluggishly in April 2026

Preleasing for university student housing remains ahead of last year's final levels, but is starting to trail early-season estimates from the last two years. That is, according to the latest Yardi Matrix Student Housing National Report for April 2026.

Overall, the student housing market is entering a more cautious, fundamentals-driven phase in 2026, with softer rent growth and a more price-sensitive renter base, even as long-term demand and investment activity remain resilient.

Student Housing Preleasing and Rent Growth for 2026

Preleasing for the Yardi 200 schools reached 65.5% in March 2026. This is 340 basis points ahead of the final estimate for March 2025 and on pace with March 2024.

"However, early estimates are likely to be revised downward as more data is collected," Yardi Matrix states in its report.

This year, rent growth jumped to 0.8% year-over-year in March—up from 0.4% in February and 0.7% in January—but down from 2.6% in March 2025 and 6.3% in March 2024. The price per bed reached $928 in March 2026.

"Rent growth remains well-below the historic average as commentary from the recent Interface Student Housing Conference indicates a shift in renter behavior in the AI era," the report states.

To read the full results of the report, visit Yardi Matrix here.