The 2025 NMHC Student Housing Income and Expense Benchmarking Survey is Coming Soon
Since 2010, NMHC’s Student Housing Income and Expense Benchmarking Survey has been a vital industry resource for student housing lenders, investors, owners, and managers seeking financial guideposts to measure both projected and actual performance.
Survey will be available for purchase soon.
NMHC Member Price: $500 | Non-member Price: $1,000
The 2025 Survey (Based on 2024 Calendar-Year Data):
The 2025 edition includes data from 16 unique student housing providers, representing 719 properties, 144,149 units, and 400,224 beds across 44 states and 6 regions.
The report provides users with access to two easily navigable Excel files:
- Summary statistics for the 2024 calendar year.
- Same-store analysis showing two-year changes (2022–2024) across a consistent set of properties, offering insight into trends in student housing operating performance.
What’s Included?
- Topline analysis by NMHC’s Research Department, including breakdowns by region, state, property size, type, age and distance from campus.
- Comprehensive Excel data for custom benchmarking and analysis.
- Comparative performance trends between 2022 and 2024 for same-store properties.
Key findings from this year's report:
- Net rental income grew by a median of 13.4% from 2022–2024 among same-store properties.
- Net rental income was highest in newer, high-rise properties and in the Northeast and Pacific regions.
- Property taxes were lowest in the Mountain region, while operating expenses were highest in small and high-rise properties.
- Properties with higher vacancies tended to spend more on concessions and marketing.
