Key Insights and Trends from the October 2024 Student Housing Report
The College House October 2024 Student Housing Report delivers key insights and trends shaping the student housing market as we approach the 2025-2026 academic year. This comprehensive analysis covers regional pre-leasing and rent trends, offering essential information for property managers, investors, and anyone involved in the student housing industry.
Regional Pre-Lease and Rent Trends: Key Insights
The October 2024 data reveals critical key insights and trends regarding pre-lease rates and rent costs across U.S. regions. The national average pre-lease rate stands at 31.6%, with notable regional differences:
- Midwest: Leading with a pre-lease rate of 36.1%, up from last year's 35.4%, signaling continued strength.
- Southeast: Holding steady at 35.9%, reflecting solid leasing activity.
- Southwest: At 28.8%, showing some regional variance but still indicative of healthy leasing trends.
Nationally, average rent per bed has risen to $991. Specific regions show significant variation:
- Northeast: The highest rent rates at $1,188 per bed.
- Midwest: Rent per bed averages $979, demonstrating steady growth.
These key insights and trends highlight the growing demand for student housing, with rent increases across regions underscoring continued market strength.
Floor Plan-Specific Insights: Variability in Pre-Lease and Rent Rates
Key insights and trends also vary by floor plan, offering more tailored insights into market demand:
- Studios: Pre-lease rates have slightly decreased from 30.0% last year to 29.9%, with rent per bed increasing by 5.9%, averaging $1,497.
- One-Bedroom Units: Pre-lease rates stand at 33.3%, reflecting a minor year-over-year decline of 1.3%, though rents still increased.
- Larger Units (5-6 Bedrooms): These floor plans show the strongest pre-lease rates, ranging from 43.5% for five-bedroom units to 49.7% for six-bedroom layouts, reflecting strong demand for shared housing.
A Rising Market: The Impact of Key Insights and Trends
The College House October 2024 Student Housing Report emphasizes the growing strength of the student housing market. Key insights and trends—such as rising average rents and stable pre-leasing rates—suggest a resilient market. However, regional and floor plan-specific differences indicate the importance of developing strategies that cater to local and market-specific needs.
To gain a deeper understanding of how these key insights and trends could influence your investments or property strategies, connect with College House for expert guidance.
Download the College House October Month End Report Today.
