Rents at student housing properties increased during a difficult two-year period for conventional apartments, according to a new research report by the National Multi Housing Council, a Washington, D.C.-based industry trade group. The report, which examines rent growth in 64 college towns during 2004-2006, finds that at a time when conventional apartment properties were struggling with concessions and lower effective rents, many properties targeting students were posting rent gains. The median rent growth rate between 2004 and 2006 across median rates for all unit types studied (e.g., studio; one-bedroom, one-bath; three-bedroom, two-bath) was 7 percent. This exceeded the 6.5 percent growth rate in rents measured by the Consumer Price Index during the same period. Other fi...
Get Inman via Facebook Messenger
Our top headlines delivered once a day.