Multifamily Student Housing is Changing | What Builders Should Know

Student Housing Trends:

Off-Campus Living | Contrary to what you might think, being right next to campus isn’t always the top priority for students anymore. In fact, some of the highest rent growth rates are found in student housing about a mile off-campus. Why? Students are looking for that perfect balance between proximity to their classes and the independence of living off-campus. They want to be close enough to walk to school, but far enough to feel like they’re stepping into their own world. Plus, with trendy cafes, restaurants, and shops right around the corner, students get the full college experience without feeling like they’re still in a dorm. Apartment-style living offers the best of both worlds: independence with a community feel, which is increasingly attractive to today’s students.

Retail Renaissance | Gone are the days when students had to make the trek on a city bus to the closest mall. Today’s students want everything at their fingertips, and mixed-use buildings are delivering just that. Mixed-use developments, which combine residential living with retail spaces, are becoming more popular around college campuses. This setup not only diversifies income for property owners but also offers students the convenience of having shops, cafes, and services right downstairs. This setup is a major win for everyone involved, attracting students who value convenience and creating a steady stream of income from those retail spaces.

Durability & Lease Turnover | When it comes to outfitting student housing, durability is your best friend. Student housing sees much higher turnover rates than traditional rentals. Students often move in and out every semester, which means up to four times the amount of wear and tear compared to a standard yearly lease. Choosing finishes that can withstand this level of use while still appealing to the next wave of students is crucial. It will save money in the long run by reducing the need for frequent replacements and minimizing maintenance calls.

Student housing is on the move, and the builders who keep pace with these trends are the ones who will come out on top. Off-campus living that balances proximity with independence, mixed-use developments that cater to students’ desire for convenience, and durable finishes that withstand high turnover rates are all key factors in creating successful student housing projects. By staying ahead of these trends, builders can not only meet the needs of today’s students but also create long-term value in their developments. The future of student living is looking bright, and with the right approach, you’ll be ready to meet it head-on.

There are many ways to the same destination. This saying applies to multifamily housing builds just as much as to anything else in life. The ultimate goal is save as much money as possible while delivering a great finished project – that’s simply showing smart business sense. But, finding a one-off deal or sacrificing quality isn’t the only way to get a healthy ROI. We have a better way.

Pioneer works with professionals every day to develop specification packages and plans that save our valued partners both time and money, sometimes in surprising ways. It’s our goal to ensure your project meets or exceeds its expected outcome. We want to get to know you and your company and show you how we can save you money.  Please reach out via our website form or call us at (800) 338-9468.