Introduction
In student housing, timing is everything—and nowhere is that more evident than in how quickly leases are signed ahead of the fall move-in. Pre-lease velocity, the rate at which beds are leased over an academic year, is one of the most telling indicators of demand in a market.
Over the past several years, we’ve seen a notable shift: leasing is starting earlier, filling faster, and accelerating past benchmarks from prior cycles. This trend is not just anecdotal—it’s visible in the data.
In this blog, we’ll unpack the latest pre-lease velocity trends leveraging College House data, highlight how the current cycle compares to previous years, and explore what this acceleration means for operators, investors, and stakeholders across the student housing landscape.
Why Pre-Lease Velocity Matters
Pre-lease velocity tracks how quickly student housing beds are leased over the course of a leasing cycle, typically from September through the following August. Unlike static occupancy snapshots, velocity gives stakeholders a dynamic view of market activity—showing when demand intensifies, how quickly properties lease up, and how this cycle stacks up against prior years.
This insight matters because it enables:
- Operators to time campaigns and staff strategically based on leasing momentum.
- Investors, Brokers & Lenders to understand market momentum and asset positioning.
- Developers to assess the health of a market relative to historical leasing cadence and understand demand for new projects
The Data: Velocity Is Picking Up—And It’s Not Slowing Down
Looking at aggregate platform trends from College House, several patterns stand out:
- Earlier Commitment Windows
- Sustained Monthly Gains
- Wider Market Participation
What’s Behind the Acceleration?
Several factors are likely contributing:
- Post-pandemic clarity: Students and families now make housing decisions earlier to lock in preferred locations and floorplans.
- Operator sophistication: Teams are deploying leasing strategies earlier, with refined marketing funnels, better technology, and incentives.
- Supply constraints: In high-barrier markets, early leasing is a reflection of limited availability and the urgency to secure quality options.
While each market behaves differently, the macro trend is unmistakable: the leasing cycle is not only accelerating—it’s becoming more competitive earlier.
The first graph in our analysis visualizes pre-lease progression by market, revealing how different metros are pacing relative to last year. While acceleration is a consistent theme, the underlying drivers vary—making local context essential for operators and investment teams.
Here’s a closer look at key markets leading the charge:
Market Highlights: Where Leasing Velocity Surged
This graph illustrates the month-over-month pre-lease gain from May to June, spotlighting markets where velocity meaningfully outpaced the same period in 2024. Here's a breakdown of what’s driving momentum in each location:
Columbus, OH
With an 11.3% month-over-month gain—nearly double last year’s growth—Columbus leads all tracked markets. This sharp rise suggests elevated demand and possibly constrained supply heading into the final months of leasing. For operators, the takeaway is clear: early execution is no longer optional here—it’s essential.
Charlotte, NC
Charlotte posted a 7.8% increase, up from 3.4% last year. This steady acceleration signals a growing student population responding to proactive leasing strategies. Early outreach and market engagement are likely playing key roles, especially in a landscape where student housing options are expanding.
Pullman, WA
Pullman saw velocity jump to 6.1%, more than tripling last year’s rate of 1.7%. This reflects strong late-spring traction and perhaps improved timing alignment with the academic calendar. Teams here should consider extending early marketing pushes deeper into spring to capitalize on this window.
Austin, TX
Austin experienced a 4.2% gain, nearly doubling its 2024 mark. While not as aggressive as other markets, the growth shows consistent leasing strength in one of the largest student housing markets in the nation —especially important in a market with both high supply and deep competition. Execution and positioning remain critical.
Tempe, AZ
Tempe saw a 4.1% lift, compared to 2.2% the year prior. This continued upward trend may reflect a tightening market dynamic and softer pricing environment. Operators should watch for velocity shifts that signal earlier demand peaks in future cycles.
Turning Insight Into Action
College House clients can already see how these trends play out in real time using tools like:
- Market Availability, which shows how much leasing demand is left in a cycle.
- Capture Rate, which tracks how a property’s absorption compares to what’s left in the market.
- AI Insights, which turn complex leasing patterns into plain-language summaries tailored to operators or investors.
Together, these features empower teams to spot shifts, act faster, and coordinate strategies across assets.
Bottom Line: Prepare Early, Move Confidently
This year’s velocity data doesn’t just tell us what’s happening—it signals how the student housing market is evolving. For operators, it’s a prompt to reevaluate the timing of leasing activations. For investors, it’s a reminder that high-performing assets often win early.
Whether you’re ahead of the market or catching up, College House helps you move from guesswork to grounded insight—so you can lease smarter, plan stronger, and outperform.
Explore the Full Story with College House
Pre-lease velocity is just one piece of the picture. With College House, you get access to the tools and insights that make market dynamics clearer, faster, and easier to act on. If you're interested in digging deeper into the data, understanding your property's position, or seeing how these trends play out in your region—we’re here to help.
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