To help apartment firms navigate the specialized student housing market, this report examines the by-the-bed submarket within the student housing sector. 

It is a follow-up to NMHC’s September 2004 landmark study, Student Housing 101: Where are the Opportunities?, which offers a snapshot of 1,550 private off-campus student housing properties in 64 “college towns” across the country. 

Key findings include:

• While by-the-bed leasing may be a growing trend within the student housing industry, it has only achieved a significant market share in two of the 64 college towns studied.  Only 132 of the 1,550 properties surveyed offered by-the-bed lease terms.
  
  
• By-the-bed properties are typically much newer than traditional student apartments, with most of the inventory built in the 1990s and after 2000, compared to an average built date in the 1960s and 1970s for the entire sample of student housing properties.
  
  
• Like by-the-unit properties, most by-the-bed properties are leased on an annual basis, but some offer shorter-term leases of six or nine months to coincide with semesters or the academic year.  In a limited number of markets, up to 100 percent of student properties offer shorter-term leases.

PRICING AND ORDERING INFORMATION

Student Housing 102: An In-Depth Look at Properties Leased By-the-Bed

• Free to NMHC/NAA members
• $200 for non-members. 
• To order/download the report, click here.
  • NAA Members: Online orders cannot be processed for NAA members.  Please click here for an order form.

ADDITIONAL NMHC STUDENT HOUSING RESEARCH

• Off-Campus Student Housing: 2011 Income and Expense Benchmarking Survey. Expands on NMHC's 2010 Off-Campus Student Housing: Income and Expense Benchmarking Survey, providing more in-depth state and regional data for operating and line-item expenses for 341 properties. (2011)

• NMHC Special Off-Campus Student Housing: Income and Expense Benchmarking Survey.  Provides information on total operating expenses as a percent of rent along with seven expense line items within operating expenses for 197 properties. (2010)

• NMHC Special Student Housing Report: Has the Recession Had an Impact? Seeks to determine whether the dramatic U.S. economic downturn has had an impact on enrollment and on-campus dormitory vacancy rates.
  
  
• On-Campus Housing Costs: More than Meets the Eye.  Researches 181 universities and offers current enrollment, basic demographic data for the locality (from the 2000 Census) and baseline on-campus housing price data and billing practices.
  
  
• What Do Students Want: Understanding Today’s Off-Campus Student Housing Market.  Explores explores what students look for when selecting an off-campus apartment based on in-depth focus groups at nine universities.
  
  
• Student Housing 201: 2004-2006 Rent Growth in 64 College Towns. Tracks rent growth in student housing properties over a two-year period. 
  
  
• Student Housing 103: A Survey of 184 University Housing Departments. Examines enrollment trends, existing on-campus housing stock and each school's own prediction of its need for future on-campus housing.
  
  
• Student Housing 101: Where are the Opportunities?  Analyzes the demand for off-campus housing in 64 "college towns" across the country.