UNC student housing outperforms in rent growth study

University of Northern Colorado student housing saw some of the highest rent growth in the country over the last year, according to a survey of 120 universities by Axiometrix, a RealPage company.

While rent growth among privately owned student housing projects compressed overall, UNC saw a 6.4 percent increase in rent growth in 2018, ranking third behind only Auburn and Bowling Green State universities.

UNC has experienced minimal new supply of student housing, but stronger enrollment growth in 2016 and 2017, driving rents above the three-year average growth of 1.3 percent, the study said. Effective rent is $585 per month, and preleasing in June for the fall 2018 semester rose 5.5 percent to 95.4 percent.

According to Axiometrix, no new student housing supply is being added at UNC this fall, and there are no projects under construction.

Among the 120 universities surveyed, overall rent growth declined from 1.8 percent to 1.4 percent this fall, but 63 percent of universities are achieving rental rate growth above the national average, and of those 30 percent are seeing growth of 4 percent or more.

Featured in CREJ’s Oct. 3-16, 2018, issue

Jill Jamieson-Nichols has been an Editor with the Colorado Real Estate Journal for more than 15 years, providing coverage of office, industrial, hospitality and mixed-use development news in the Denver metro area, plus all property types in Northern Colorado, Boulder County and along the Highway 36 corridor. Prior to joining CREJ, Jill was Editor of…