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Occupancy Skyrockets in Supply-Heavy College Station

Occupancy Skyrockets in Supply-Heavy College Station

An unexpected apartment market claimed the largest occupancy increase in the nation in 4th quarter: College Station, TX. In the final quarter of 2021, College Station occupancy rose 390 basis points to stand at 97% – marking a seven-year high for this market which generally trails the U.S. average. This market of about 26,000 conventional market-rate units is home to Texas A&M University, which has an enrollment of about 66,000 students. The conventional apartment market in College Station has seen extreme swings in new supply over the last several years, gaining as much as 9.4% new inventory in a year (in late 2018) and as little as 1.1% (in early 2017). In 2021, about 660 new units came online in College Station while 1,600 apartments were concurrently absorbed. Texas A&M, meanwhile, has about 50,000 privately owned student housing beds. After receiving massive levels of new supply in 2016, 2017 and 2018, the university has seen very little construction in the last three years.