Nationally, student housing rent growth is on track for its weakest year outside the COVID-19 pandemic disruption. Moody’s Analytics forecasts average U.S. rents, on a per-bed basis, will rise just 1.2% in 2026, down from 6.1% in 2023, 5.5% in 2024 and 1.5% in 2025.
That represents a striking cooldown, especially given how tight the market remains. The vacancy rate is just 1.8%, near the record low of 1.7%. Such scarcity would typically translate into continued pricing power for owners and operators. Instead, national rent growth has nearly stalled. The Midwest, however, is bucking that trend.
Moody’s Analytics tracked the Midwest’s performance across 53 universities in 11 states, including Ohio, Michigan, Wisconsin, Indiana and Iowa....
