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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.

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