As the academic year approaches, student housing markets are buzzing with activity. Let’s dive into the latest insights:

1. Pre-Leasing Momentum: Despite a slight dip in pre-leasing rates (84.5% vs. 85.8% last year), June witnessed a surprising 6% growth in pre-leasing momentum. Students are securing their spots earlier than ever! 🎓
2. Location Matters: Properties over a mile from campus boast the highest pre-lease occupancy (85%), while those within half a mile match the overall average (84.5%). Even the “in-between” properties (half a mile to one mile) maintain a strong 84% occupancy rate. 🏘️
3. Rent Growth: Annual effective rent growth softened to 4.4% in June. Interestingly, properties farther from campus (over a mile) saw robust rent growth (nearly 6%), while those closer had slightly lower rates. 📈

🔍 The Takeaway: Student housing remains resilient, especially for properties away from campus. Keep an eye on the University of Tennessee (25% YoY rent growth) and other campuses like Ole Miss, University of Kentucky, Purdue, College of Charleston, and University of Arizona. 🌟

What’s your take on the student housing market? Share your thoughts! 🤔🏠 #StudentHousingInsights #RealEstateTrends