[[{“value”:”
Preleasing at Yardi 200 Schools Rises Year-Over-Year, but Growth Faces Headwinds
Preleasing activity at the Yardi 200 universities remained strong in May 2025, increasing 1.5% year-over-year to reach a rate of 79.9%, according to the latest Yardi Matrix report. However, despite this positive trend, the pace of rent growth has started to slow. Rent growth in May recorded a modest 2.1% increase — the slowest rate observed since July 2021.
In fall 2024, average enrollment growth across the Yardi 200 experienced a notable jump to 1.8%. However, several emerging challenges may threaten continued momentum. Most significant is the forecasted decline in the number of high school graduates, which is expected to have peaked this year. Additionally, changes in federal policy could reduce funding for higher education, particularly for graduate-level research programs. Compounding these concerns is increased scrutiny of the U.S. international student visa process, which may reduce the inflow of international students — a cohort that often contributes significantly to demand for off-campus housing.
A potential decline in international student enrollment is particularly concerning, as it could directly impact housing demand around campus communities, which traditionally depend on this demographic.
Pictured: An aerial view of the University of Cincinnati campus, which experienced the highest year-over-year preleasing growth among the Yardi 200 schools.
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