- Just 3.3% of US student housing beds were pre-leased for Fall 2026 as of October—the slowest October start since 2015.
- For context, even Fall 2025, which started at a similarly sluggish 7.2%, ended up as the strongest leasing season in recent years.
- Pre-leasing was evenly sluggish across distance tiers, with both close-to-campus and farthest-out properties reporting 3.4% occupancy.
- Properties between half a mile and one mile from campus had the lowest pre-lease rate at 2.7%.
A Historically Slow Start
The Fall 2026 student housing leasing season is off to a historically slow start. Just 3.3% of privately owned beds were pre-leased nationally in October, reports RealPage. That’s the lowest October reading in over a decade and significantly below last year’s 7.2% start.
However, there’s precedent for late-season rebounds. The Fall 2025 cycle also opened weak but ultimately closed as one of the strongest seasons in recent memory. That offers hope for a similar turnaround in 2026.
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Uniform Slowness Across Distances
Leasing momentum is tepid across the board in student housing, regardless of proximity to campus. Student housing properties located within a half mile and those located the farthest from campus both reported 3.4% occupancy rates. Communities situated between a half mile and one mile lagged slightly behind at 2.7%.
This uniformity signals that broader macro or academic calendar factors—rather than location-specific trends—are likely influencing the slow start.
What’s Next
While the season is off to a slow start, early numbers don’t necessarily predict final outcomes. With nearly 10 months remaining before Fall 2026 move-ins begin, leasing velocity may yet pick up as students finalize plans and universities clarify enrollment outlooks.
Expect property managers and owners to ramp up marketing strategies in early 2026 to drive pre-leasing activity, especially in light of the slow kickoff.
