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Student housing had managed to survive the early days of the pandemic with relatively flat rent growth. That changed in December. After months of deceleration, student housing rent growth fell below -1%, according to a new report from Yardi. In December, student housing rent growth dropped to -1.3% year-over-year.

Yardi notes that this was a stark change for the market. Prior to the pandemic, student housing had enjoyed healthy rent growth that consistently came in at 3%. Still, the decrease in student housing rents still pales in comparison to market-rate multifamily housing, which has seen more significant decreases in rents. According to Moody’s Analytics, apartment rents fell by 2.8% at the end of the year. By the end of the fourth quarter, they had already fallen 1.8%, well above the end-of-the-year decrease in rents.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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