Student Housing Pre-Leasing Surges Nearly 10% in April
Student housing leasing activity is tracking close to historic norms for the fall 2026 leasing season, with nearly 70% of beds already pre-leased more than halfway through the cycle, according to new data from RealPage Market Analytics.
As of April, 68.2% of student housing beds nationwide were pre-leased for the upcoming academic year, placing the market slightly above its decade average of 66.6% at this point in the leasing season.
The April reading reflects continued steady demand in the sector, even as performance trails some of the stronger recent cycles. Fall 2025 posted a higher April pre-lease rate of 69.3%, while both Fall 2023 and Fall 2024 surpassed the 70% mark at the same point in the leasing calendar.
Leasing momentum accelerated sharply during the month. From March to April, pre-leasing increased by 990 basis points or nearly 10%, a gain that exceeded the long-term April average for the sector, though it came in below the pace seen during the same period in 2025.
Location continues to play a defining role in leasing performance. Properties located within a half-mile of campus led the market in April, reaching a 68.7% pre-lease rate after increasing by roughly 1,000 basis points over the month.
Communities positioned between a half-mile and one mile from campus followed at 66.9% leased, while those more than a mile from campus posted 67.8% occupancy.
The relatively tight performance among near-campus assets underscores the continued premium placed on walkability and proximity to academic cores, even as student housing supply has expanded in many university markets nationwide.
Source: GlobeSt/ALM