This, of course, is in order to distinguish their school and attract students. Read more: Student Housing Marketing Strategies To Boost Sales In 2022. Trends in Student Housing: Shifting Toward a Healthy Lifestyle. Purpose-Built Student Housing has Evolved. Off-campus student housing rent growth has remained positive over the past several years, including during 2020 when it squeaked by with just 0.5% annual rent growth, despite declining 4.4 percentage points year over year. Furthermore, even during the onset of COVID-19 in 2020, weighted tuition growth still managed to outgrow enrollment growth, albeit slightly, as many institutions froze or delayed tuition increases. Things college students want include being a part of a college that shares their values and mirrors their passion for environmentalism. Increased privacy, comfortable and computer-enabled study areas and car-sharing services are just a few examples. Multi-Housing News. Further adding to the wellness point, vending machines that once contained soda and chips are now featuring healthy snackslike pita chips and fresh salad bowlsvitamin water and sports drinks. Though blended model housing is a trend that any student housing operator should emulate, there are few projects that individual bedrooms and bathrooms are not recommended for the unit design. Once the package is in, students just scan their code, grab their item, and go. In fact, weighted tuition growth for 2021 was approximately 2.5% compared to enrollment growth of 1% during the same period. Yes, it is true that if you're trying to attract multi-family customers, you need multi-family facilities, but location and pricing are the most important factors for students and non-students. In the age of Amazon, online shopping has taken over and completely altered buyer behavior. We believe the student housing sector will need to come up with creative ways to encourage those students that do enroll in colleges and universities to choose off-campus housing, and to continue to do so over the long term. Gen Z students, unlike previous generations, have their own set of demands and lifestyle choices. Now, though, the views towards student housing have changed. Variety they say is the spice of life. This is why an increasing number of universities are adding Parcel Pending smart lockers to their campuses. However, we expect the off-campus student housing sector to face certain headwinds over its short-term outlook that could impact future demand. Smart lockers for colleges make it fast and simple for students to retrieve a package at any time. Pinpoint drivers of submarket momentum and individual asset forecasts with greater This has been accompanied by increased social media use, anxiety, depression and self-inflicted injuries among young adults and teens.. http://www.nbcnews.com/id/25687860/ns/us_news-environment/t/more-colleges-redo-dorms-green-touches/#.XkLe9VJKhhF. Something had to be done. , the Mansfield, Connecticut, post office which is where packages headed to UConn are processed had received 3,000 packages per day headed to campus. Many colleges are consciously providing fewer parking spaces, particularly in the middle of campus. It is a major trend to use the internet of things appliances (smart home automation) to improve living experiences for tenants in student housing. While this is convenient for students, the package influx has created a massive problem for university mail centers. Sales: Before anything, give yourself some credit for even taking a risk to consider investing in student housing and eventually getting high returns in real estate. But the battle can be fought on multiple fronts, which is why there has been renewed focus on the links between physical health and mental health. Communities are embracing purpose-built student housing projects as a way to move students from community houses to centralized locations that can accommodate a students lifestyle. So incorporating sustainable living into your facilities as a student housing landlord would be a great idea. Contact usEmail:[emailprotected]Phone:(480) 663-1149, AboutAbout usPublicationsSolutionsMarketsPrivacy PolicyTerms of use, Institutional Investment in Single Family Rentals is on the Rise, Reports Yardi Matrix, Student Housing Continues Outstanding Performance, Yardi Matrix Reports, Self Storage Street Rates Up Again in June, Yardi Matrix Reports, U.S. Building facilities that support interaction, participation, and good academic performance has continued to be a difficult thing to achieve. Some institutions and student housing landlords even provide spa facilities with private showers and toilets for the student's convenience. As the prices of tuition, campus housing, and textbooks have risen, greater numbers of detractors questioned whether it was a worthwhile investment. The newer generation's conduct and lifestyle are unlike anything we've seen before. New supply has continued to moderate and is now on track to deliver the lowest amount in more than a decade for both the upcoming fall 2022 and 2023 school years. And if this is just the beginning, its hard to imagine how different college student housing may look like in the next decade alone. In general, the most part of the list is of urgent issues, focused on protecting students' safety and health against COVID-19, preventing viral infection in housing facilities, and making facilities services cost-effective effective. Even better, colleges are developing outdoor areas to accommodate a variety of educational, social, healthy, and leisure activities. From greener living to tech-enabled campus mail centers, heres what, 5 Game Changing Trends in College Student Housing, In the past, dorms were more akin to penitentiaries. This volume of deliveries kept the staff at Mansfields post office at work until 3 a.m., Packages getting stolen, misplaced, or damaged, For university staff, it represents dozens of hours spent weekly on receiving, storing, organizing, and delivering packages. Contemporary student housing ideas include flexible study rooms, cafes, laundry rooms, kitchens, clinics, and leisure areas with comfortable furnishings to correspond with this purpose of engaging students. We are also seeing students focus shift toward physical wellness that includes technology. The following trends are just a few of the ways that colleges are reimagining student living: Although the college experience used to be more about churning students through the educational cog, theres been a shift in how they view their students, particularly their development and emotional well-being. Proven to outperform the market 2-5% in every market cycle. Most of us remember in college being crammed with five other people into a nearly falling over house. Simply put, sustainable living is a strategy for lowering one's "carbon footprint.". These exciting trends share a similar purposeto create an atmosphere conducive towards both socialization and academic pursuit. You should jump on this trend because most student housing today includes features like innovation incubators, pool tables, basketball courts, libraries, green screens, medical labs, and other similar spaces. They were roofs and bedsshelter, nothing more. Also as expected, the outbreak of coronavirus has raised the demand for privacy in student housing all over the world. Using more durable, energy-efficient light sources also minimizes the amount of garbage that needs to be disposed of. As a result, student housing should provide mental and physical health facilities like clinics, outdoor games facilities, places to hang out, and psychotherapy spaces. The most typical example is apartment complexes, although multi-family residences may be built in a number of different ways. Common actions taken to reduce auto traffic on campus include: From high-tech mailrooms to sustainable dorms, universities are continually seeking ways to entice new students and improve campus life. So, here are some of the significant factors influencing the student housing business as a result of the pandemic. This volume of deliveries kept the staff at Mansfields post office at work until 3 a.m.. Institutions have figured out a method to offer co-ed accommodation while maintaining student privacy. The off-campus student housing sector emerged from the pandemic and achieved performance levels that exceeded pre-pandemic highs, but that is not necessarily an indicator of future trends. Now that we have discussed some trends in student housing post-pandemic, it is time to discuss major general trends in student housing. Preleasing and rent growth for the fall 2021 term ended on a positive note, and fundamentals continue to look healthy as preleasing for the fall 2022 term is underway. The increase of $72 per bed between 2020 and 2021 was the highest on record, and its much higher than the average annual increase of $32 per bed since 2013. Often, student housing. 855-316-4756 The previous preference for big-group units for six-person apartments has shifted to micro-units and studio-type dwellings, as well as single- and double-bedroom flats. To date, it is one of the safest investment options and the current coronavirus outbreak and recent economic downturn have validated this notion. June 13, 2022. Read the full Matrix Student Housing Report-January 2022. Although the trends in college student housing change annually and may be regionally dependent, there are some universal trends worth noting. But now they are focusing on, where students live, creating green residence halls. These days, a walking path on a college campus might look like the Tour De France. This creates problems for students, such as: For university staff, it represents dozens of hours spent weekly on receiving, storing, organizing, and delivering packages. Before the pandemic, students were particularly concerned about the environment. Not consenting or withdrawing consent, may adversely affect certain features and functions. RealPage Market Analytics delivers true performance data no one else has. From greener living to tech-enabled campus mail centers, heres what college campuses will adopt next: It would be nave to pretend that a students decision about which college they plan on attending hinges entirely upon the schools academic merits. Changing Trends in College Student Housing. It can also be a single room in a group of rooms. Yardi Matrix provides investment strategy, market and institutional research reports leveraging the underlying property level detail of 135 markets, >92,000 multifamily properties and >18 MM units. Yardi Matrix is a US multifamily, student, office, medical office/lab space, industrial, and self-storage asset information toolset for originating, underwriting, and asset managing commercial real estate investments, with over 800 clients worldwide. Although the college experience used to be more about churning students through the educational cog, theres been a shift in how they view their students, particularly their development and emotional well-being. Resources, Once Again Student Housing Rent Growth, Occupancy Set Records, Little Room Left for Late Season Student Housing Demand, Student Housing Pre-Lease Occupancy Hits Nearly 80%, These States Boast the Largest Student Housing Units, Average Student Housing Rents Ranked by State, Student Housing Pre-Leasing Hits a Record High and Rent Growth Surges, Student Housing Pre-Leasing Surpasses Halfway Mark as Rent Growth Soars, January Pre-Lease Rate Now Outpacing Pre-Pandemic Norms, Pre-Leasing Returns to Pre-Pandemic Norms as Rent Growth Doubles, Student Housing Transactions Surpass Pre-Pandemic Norms, Rising Interest Rates Scramble Student Housing Deals |, DFW Will Need To Build 19,000 New Apartments Each Year To Meet Demand |, Millennials opt out of housing market, driving growth of multifamily market |, D-FW apartment building surges along with rent |, Class A Multifamily Tenants Face Highest Rent Increases |, Market-Rate Apartment Residents Not Worried About Making Rent |, US rents are on the rise and its at the fastest pace in years |, Rents in US Rise at Fastest Pace Since 1986, Buoying Inflation |, Relief Eludes Many Renters as Fed Raises Interest Rates |. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); 2022 Yardi Systems, Inc. All Rights Reserved.Yardi, the Yardi logo, and all Yardi product names are trademarks of Yardi Systems, Inc. Unfortunately, nobody can categorically tell how the student housing business will do in the future. Furthermore, current technology's curiosities play a key function in the industry's adjustments. Knowing that this is an increasingly mounting issue, universities are looking to prioritize mental and physical health on campuses. Part of it involves educating students on how to be good shepherds of their earth. Many colleges have abolished shared bathrooms in residence halls. It is easy to understand why some individuals feel this way, but in reality, student housing is a significant money-making component.