Operators Offering Fewer Student Housing Concessions

In a normal year, it’s not unusual to see student housing concessions becoming more common later in the leasing cycle. While October does tend to show some early bird specials, it’s generally the case that we will see concession offerings in November and December bottom out at around 10% to 15% of all vacant beds before rising to 20%-plus by year-end. However, for Fall 2022, those figures are showing a drop in the percentage of vacant beds with concessions as the year goes on. Obviously there are fewer vacant beds today than a few months prior so the increase in percentage of beds offering isn’t necessarily something that we expect to move the needle. However, that is yet another solid indicator of demand and suggests we’re well on our way to one of the best years on record for the student housing industry overall.