Student Housing Shortage May Provide New Rental Opportunities
A 38.7 percent increase in university enrollment over the past decade is creating a shortage of on-campus housing nationwide, according to a new white paper from the National Multi Housing Councils (NMHC) National Student Housing Council (NSHC).
The tremendous size of Generation Y, combined with economic uncertainty, have pushed enrollment to new heights over the past decade, said Jim Arbury, NMHCs Vice President of Student Housing. This has put tremendous pressure on universities across the country as they attempt to keep up with the demand for on-campus living, offering a new opportunity for student housing firms
Highlights from the white paper include:
The 38.7 percent increase in enrollment led to a 21.4 percent growth in the number of students living on-campus.
While every state saw enrollment increases, Arizona, District of Columbia, Georgia, Iowa, Minnesota and West Virginia experienced some of the greatest surges in enrollment.
Most states have been unable to maintain the same percentage of students housed in dorms. States with the highest on-campus shortages are Arizona, District of Columbia, Indiana, Iowa, Minnesota, Nevada and Oregon.
Only five states — California, Florida, Hawaii, Maryland and Utah, have been able to provide enough additional dorm beds to maintain dorm residency levels against growing enrollments.
For more information about the study, visit www.nmhc.org/goto/60808.
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