As students get ready to return to campuses in a matter of days or weeks with August and early September being the main return times, the purpose-built student housing sector (PBSH) has posted strong numbers for Fall 2023 preleasing and rent growth. The buildings that are off but near campus and lumped together at PBSH are receiving stellar marks for how they're faring at most of the 200 universities Yardi Matrix tracks in its "National Student Housing Report." Third quarter 2023 results were recently released. 

The category is expected to continue to perform well, in part since it's less affected by the overall economic clouds, including the possibility of a recession and continued high interest rates and tightened lending. But for their housing, students also book their "beds"—how units are measured in this sector—ahead of what's typical for other types of housing.

"With its infamous recession-resistant characteristics, student housing is poised at the top of real estate asset classes to perform exceedingly well in the short and long run. Occupancies and rent growth for academic year 2023-24 are as strong as ever and are expected to remain high at America's strongest universities," Frederick W. Pierce, IV, President and CEO of San Diego-based Pierce Education Properties, told GlobeSt.com.