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US Student Accommodation Market Size (2024 - 2029)

The US student accommodation market is experiencing growth driven by a resurgence in demand as educational institutions reopen post-pandemic. This demand is fueled by an increase in both international and domestic student populations, particularly in cities with prestigious universities. The market is characterized by a variety of accommodation types, including traditional dormitories and purpose-built student housing, with the latter gaining traction due to its student-centric amenities. The sector has attracted significant investment, leading to the development of modern housing complexes, which reflects a positive outlook for the market's expansion.

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Market Size of US Student Accommodation Industry

US Student Accommodation Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 6.50 %
Market Concentration Medium

Major Players

US Student Accommodation Market Major Players

*Disclaimer: Major Players sorted in no particular order

US Student Accommodation Market Analysis

The US student accommodation market has generated revenue of USD 3.1 billion in the current year and is poised to register a CAGR of 6.5% for the forecast period.

As the effects of the COVID-19 pandemic subsided, educational facilities and campuses reopened, and students began to return; this increased student accommodation demand and, consequently, an increase in accommodation prices. The confidence of student accommodation providers was reinforced by an increase in pipeline projects, which indicated a level of confidence in the industry for the foreseeable future.

The US is experiencing a steady increase in international and domestic student numbers, which has resulted in a rise in the demand for student accommodation in residential settings. Cities with renowned universities have been particularly responsive to this trend. Student accommodation in the region can be found in the form of traditional dormitories, purpose-built student housing (PBSA), private apartments, homestays, and other forms of accommodation. PBSA is gaining popularity due to its convenient features and services tailored to the needs of students. US student housing has seen an increase in investment from both domestic and international investors, leading to the development of advanced and contemporary student housing complexes.

US Student Accommodation Industry Segmentation

A student accommodation is a well-maintained, professionally managed residence for students. They typically include common areas such as a lounge area, dining area, kitchen area, and bathrooms. The accommodation is provided on a daily or weekly basis. 

The US student accommodation market is segmented by type (homestays, student apartments, on-campus housing, off-campus housing, dormitories, other types), by service type (Wi-Fi, laundry, utilities, dishwashers, parking), and by application (graduates, sophomores, post-graduates, other applications). 

The report offers market sizes and forecasts for the US student accommodation market in USD for all the above segments.

By Type
Homestays
Student Apartments
On-Campus hosuing
Off-Campus Housing
Dormitory
Other Types
By Service Type
Wi-Fi
Laundry
Utilities
Dishwasher
Parking
By Application
Graduates
Sophomore
Post-Graduates
Other Applications
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US Student Accommodation Market Size Summary

The US student accommodation market is experiencing a robust growth trajectory, driven by the resurgence of student populations as educational institutions reopened post-pandemic. This resurgence has led to increased demand for various forms of student housing, including traditional dormitories, purpose-built student housing (PBSA), private apartments, and homestays. The market is characterized by a steady influx of both international and domestic students, particularly in cities with prestigious universities. PBSA is gaining traction due to its tailored features and services, catering to the modern student's needs. The sector has attracted significant investment from both domestic and international investors, resulting in the development of advanced student housing complexes. Despite demographic challenges, such as a decline in the college-aged population, the market remains a steady source of demand for real estate investors, with expectations of gradual enrollment growth in postsecondary institutions over the long term.

The rapid urbanization and development of higher education institutions in urban areas have further fueled the demand for high-quality student accommodation, which offers modern amenities and safety features. This demand has attracted substantial investment from institutional investors and real estate developers, drawn by the promise of stable rental income and high occupancy rates. The market is currently dominated by a few major players, but technological advancements and innovations are enabling mid-size to smaller companies to expand their market presence. Notable players in the market include COAST, EdR, Aspen Heights, Peak Campus, and Greystar Advantage. Recent developments, such as the launch of AI-driven tools by platforms like University Living, highlight the ongoing innovation in the sector, aimed at simplifying the accommodation search process for students.

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US Student Accommodation Market Size - Table of Contents

  1. 1. MARKET INSIGHTS AND DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Continued Expansion of Higher Education

      2. 1.2.2 The Surge in the Number of International Students

    3. 1.3 Market Restraints

      1. 1.3.1 Affordability and Shortage of Supply

      2. 1.3.2 High Cost for International Students

    4. 1.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitutes

      5. 1.4.5 Intensity of Competitive Rivalry

    5. 1.5 Insights on Current Trends and Innovations in the Market

    6. 1.6 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Homestays

      2. 2.1.2 Student Apartments

      3. 2.1.3 On-Campus hosuing

      4. 2.1.4 Off-Campus Housing

      5. 2.1.5 Dormitory

      6. 2.1.6 Other Types

    2. 2.2 By Service Type

      1. 2.2.1 Wi-Fi

      2. 2.2.2 Laundry

      3. 2.2.3 Utilities

      4. 2.2.4 Dishwasher

      5. 2.2.5 Parking

    3. 2.3 By Application

      1. 2.3.1 Graduates

      2. 2.3.2 Sophomore

      3. 2.3.3 Post-Graduates

      4. 2.3.4 Other Applications

US Student Accommodation Market Size FAQs

The US Student Accommodation Market is projected to register a CAGR of greater than 6.5% during the forecast period (2024-2029)

COAST, EdR, Aspen Heights, Peak Campus and Greystar Advantage are the major companies operating in the US Student Accommodation Market.

US Student Accommodation Market Report Snapshots

US Student Accommodation Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)