Leasing Gains Widen as Rates Rise: A Steady June Close to Q2
As of July 3, national student housing pre-lease reached 83.6%, a +1.3% year-over-year increase and the highest rate for this point in the cycle over the past five years. Despite some regional softening, especially in the Northeast and Southwest, national velocity remains consistent and ahead of the prior year’s curve
At the regional level, the Southeast continues to lead at 86.3% pre-leased, while the West (80.8%) and Midwest (82.9%) show modest YoY improvements. The Southwest (82.8%) and Northeast (78.6%) are slightly behind their prior-year benchmarks.
Rent growth remains strong, with the national average rate per bed now at $1,008, up +4.6% YoY. The Midwest saw the highest growth at +5.3%, while the Northeast maintains the highest average rate at $1,250 per bed.
Larger unit types continue to outperform:
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6-bedroom units saw the most significant pre-lease jump, rising +3.2% YoY to 87.1%.
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2- and 3-bedroom units followed closely, each increasing +1.5% YoY.
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Studio pre-lease remained flat at 79.2%, while 1-bedrooms dipped slightly (-0.2%).
Rates per bed rose across all unit types, led by:
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3-bedrooms with a +7.0% increase ($902 avg),
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5-bedrooms at +4.9% ($1,045 avg), and
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6-bedrooms at +4.4% ($1,107 avg).
As we head deeper into peak leasing season, the data points to a steady cycle defined by consistency, demand-driven growth, and widening performance gaps across floor plans and regions. For operators and investors alike, understanding where those gaps exist—and why—will be key to capturing remaining demand.
Explore the full breakdown, including regional snapshots, floor plan benchmarks, and five-year trend comparisons, in the full report.
Download the full report: June Month End College House