Student Housing Growth Gives Hints of Normalizing

“March’s month-over-month rent growth of 0.7% looks more usual from a historical perspective.”

By Philippa Maister | April 25, 2023 at 08:29 AM

There’s no shortage of students in need of housing near university campuses. This year, demand for rentals was so great that by March pre-leasing activity had reached its highest ever total for this time of year. Annual effective rent growth for student apartments also “easily overshadowed” others in recent history.

But on a monthly basis, the picture was a little different. The 7.6% uptick from February to March in pre-leasing was below the average of 9% for this time of year and rent growth was more moderate, according to RealPage, a technology platform that provides data insights on rental spaces.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

Unlimited access to GlobeSt and other free ALM publications
Access to 15 years of GlobeSt archives
Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
1 free article* every 30 days across the ALM subscription network
Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account? Sign In Now

Dig Deeper

Recommended Stories

Credit Funds Eye a CRE Distressed Market

Erik Sherman | May 26, 2023

With banks already under stress, nonbanks that have capital consider a profit opportunity.

People's Park Student Housing Heads to State Supreme Court

Jack Rogers | March 21, 2023

Appeals Court blocks UC Berkeley student housing project.

CRE Loan Originations Drop to Nine Year Low

Philippa Maister | May 12, 2023

There is a “logjam” in the CRE sales and financing markets.

Resource Center

Malls still play a key role in the wider retail landscape. This white paper analyzes changes in shopping center visitor behavior to see how malls are maintaining relevance in 2023.

White Paper

Sponsored by Placer Labs Inc.

Navigating a Changing Mall: Analyzing Consumer Behavior

Malls still play a key role in the wider retail landscape. This white paper analyzes changes in shopping center visitor behavior to see how malls are maintaining relevance in 2023.

Browse More Resources ›

This info brief outlines the benefits of automating your third-party asset management reporting and validating data in real time. Learn how you can consistently close your reporting cycle on time!

Information Brief

Sponsored by Cherre, Inc.

Automate Third-Party Asset and Portfolio Reporting

This info brief outlines the benefits of automating your third-party asset management reporting and validating data in real time. Learn how you can consistently close your reporting cycle on time!

Browse More Resources ›

Cloud-based access control delivers important benefits like increased convenience, security, and cost savings for your enterprise or property. This guide explores the top four benefits of cloud-based security and how it creates a more welcoming and safer experience.

Guide

Sponsored by Brivo

Top 4 Reasons to Upgrade Your Physical Security With the Cloud

Cloud-based access control delivers important benefits like increased convenience, security, and cost savings for your enterprise or property. This guide explores the top four benefits of cloud-based security and how it creates a more welcoming and safer experience.

Browse More Resources ›

GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
Exclusive discounts on ALM and GlobeSt events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now

Copyright © 2023 ALM Global, LLC. All Rights Reserved.