Which School Would Win CRE's Student Housing Rent Growth March Madness?
NO. 20 | CHART FOR THOUGHT
- Congratulations to all of the schools who made it to this year’s Final Four! As the Final Four prepare for this weekend’s games, we looked back over the year to see which of the Elite Eight would win the CRE Student Housing Rent Growth Championship.
- Florida Atlantic University in Boca Raton, Florida is this year’s student housing rent growth champion! FAU rent growth stems from its supply-demand imbalance. FAU has approximately 30,000 students and just over 5,100 beds on the campuses. FAU saw an unprecedented number of their current residents, approximately 75%, participate in their residential contract renewal process this year. In past years, the averages were closer to 55%.
- Overall U.S. Student Housing grew by 8.8% over the trailing twelve months, according to CoStar. Student housing fundamentals received a large boost as in-person classes and other extracurriculars are fully back from the pause due to Covid-19.