Fall 2026 Student Housing Pre-Leasing Hits a Record 91% as Demand Persists

U.S. student housing demand continues to outperform historical norms as the Fall 2026 season enters the final stretch.

Pre-leasing hit a record 91% in July, marking another month of solid leasing performance ahead of the Fall 2026 academic year. In the past decade, pre-leasing has averaged 87.8% in July and came close to the 91% mark in Fall 2025 and Fall 2022, according to data from Realpage Market Analytics.

(The core 175 universities tracked and forecasted by RealPage saw even more progress, with 91.4% pre-leased as of July.)

July’s pre-lease rate was 610 basis points (bps) ahead of the June level and 40 bps ahead of the year-earlier showing. Although leasing velocity moderated slightly from June's 700-bps gain, July's increase remained generally in line with historical seasonal patterns. The market has now outperformed long-term averages for five consecutive months, allowing Fall 2026 leasing to overcome the early-season lag recorded during the first half of the cycle.

Properties located closest to campus continued to hold a modest advantage in July, though all distance categories are showing strength. Communities located within a half mile of campus reached 91.3% pre-leased in July, while properties between a half mile and one mile from campus were 90.6% pre-leased. Communities located more than one mile from campus recorded 90.5% pre-leased in July. The narrow spread among the three distance segments indicates that demand remains broad-based, with students continuing to absorb available inventory regardless of proximity to campus.

As students make plans to return to campus in the next two weeks, the Fall 2026 leasing cycle remains positioned to conclude near – or even ahead of – the exceptionally strong levels recorded in recent years.

For more information on the state of the student housing industry, read previous posts on Student Housing.