Where Is New Student Housing Going?
Digested from Students Returning to Strengthening Sector in Axiometrics Student Housing Newsletter (Summer 2016)
Across the country, the student housing sector is adding about 47,700 new beds for fall 2016.
The University of Arkansas is adding the most beds in 2016, with 2,319, followed by Texas A&M University (1,850) and the University of Illinois at Urbana-Champaign (1,522).
For fall 2017, Axiometrics estimates that student housing supply will increase by 43,800. Texas A&M plans to deliver the most student housing supply in 2017, with 2,336 beds, followed by Michigan State University (2,324) and Texas Tech University (1,760).
Through June 2016, annual effective rent growth was 2.3 percent, and the national average rent was $618 per bed for fall 2016.
Kent State University had the highest rent growth in the nation, at 11.6 percent; average rent increased from $585 in fall 2015 to $653 in fall 2016. At the other end of the spectrum, the University of Delaware had the lowest annual effective rent growth for fall 2016, at -9.7 percent; average rent decreased from $827 in fall 2015 to $747 in fall 2016.