A new report from RealPage Analytics shows that College and university students have returned to campus, resulting in record-breaking occupancy in student housing. Key points from the report include:
- In September, over 957,000 beds were occupied, surpassing pre-lease estimates by 6,000 beds and achieving a 95% occupancy rate.
- While the current occupancy rate is slightly higher than August’s rate of 94.4%, it is still lower than the record high of 96.5% in the fall of 2022.
- This rebound in student housing occupancy signifies a recovery from the pandemic’s impact, which had reduced occupancy to 88% in the fall of 2020.
- In 2023, approximately 37,000 new beds were added across 175 core universities, and the report anticipates higher occupancy in the fall of 2024, with a projection of 28,000 new student housing beds. However, this projection may change due to various factors, including financing challenges and economic feasibility.
