Student Housing Supply to Hit 11-Year Low in 2022
After a decade of new student housing supply averaging at elevated levels in the U.S., 2022 will mark an 11-year low in supply. In 2022, about 26,700 beds are scheduled to deliver, marking the lowest total since the Great Recession recovery. Next year’s total is much lower than the 50,000 beds the market delivered per year, on average, in the past 10 years. In 2021, annual supply was about 42,000 beds, nearly identical to the pace of completions from 2019 and 2020. New supply peaked in Fall 2013 and Fall 2014 at over 64,000 new beds. RealPage expects this pullback in student housing supply to last for a year or two based on currently identified projects, which will allow many overheated schools to recover and rebalance supply and demand fundamentals.