Student housing preleasing starts out strong in January 2025

Preleasing at student housing properties has started out strong in 2025. By December of last year, preleasing at the Yard 200 schools reached just over 47 percent. This is a jump of seven percentage points above the same time in 2023, according to the Matrix Student Housing National Report – January 2025.

As for rent growth, this leasing season in behind the last two years at 3.8% year-over-year. Student housing rent growth has steadily declined since reaching a peak of 7.6% in June 2023. This leasing season, the average rent growth has been 4.3%, although rent per bed hit a record high of $909 in December.

2025 Student Housing Supply

The supply of new student housing has decreased, with 35,703 off-campus, dedicated student housing beds completed in 2024, a drop from 44,746 beds in 2023. Looking ahead, Yardi Matrix forecasts a continued decline in supply, with 32,100 beds expected in 2025 and 33,995 beds in 2026.

Schools with the strongest enrollment growth include the University of Arizona (6.3% growth), Purdue (5.6%), the University of Illinois (5%), Kennesaw State (6%), LSU (5.8%) and Texas State (5.1%).

To read the full student housing report, visit Yardi Matrix here.