Preleasing Rises Year-Over-Year at Yardi 200 Schools, but Headwinds May Impede Growth

Preleasing Rises Year-Over-Year at Yardi 200 Schools, but Headwinds May Impede Growth
News| June 23, 2025| Paul Bubny
Student Housing

Preleasing at Yardi 200 schools continued to trend above last year, up 1.5% year over year to 79.9% in May 2025, Yardi Matrix reported. However, annual rent growth has been decelerating in recent months, with May rent growth of 2.1% representing the slowest pace since July 2021.

Although average enrollment growth for the Yardi 200 spiked to 1.8% in fall 2024, several headwinds threaten future growth. First, the number of high school graduates is expected to have peaked this year and will gradually decline. Second, higher-education funding, particularly for graduate research programs, is at risk from policy changes. And most recently, increased scrutiny of the international student visa process may limit the flow of new international students to U.S. universities.

In particular, a decline in international students could hinder enrollment growth and reduce demand for off-campus housing, where these students often represent a significant share, according to Yardi Matrix.

Pictured: University of Cincinnati, which saw the highest Y-O-Y preleasing growth of the Yardi 200.

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