Market Size of US Student Accommodation Industry
Study Period | 2020 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2020 - 2022 |
CAGR | > 6.50 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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US Student Accommodation Market Analysis
The US student accommodation market has generated revenue of USD 3.1 billion in the current year and is poised to register a CAGR of 6.5% for the forecast period.
As the effects of the COVID-19 pandemic subsided, educational facilities and campuses reopened, and students began to return; this increased student accommodation demand and, consequently, an increase in accommodation prices. The confidence of student accommodation providers was reinforced by an increase in pipeline projects, which indicated a level of confidence in the industry for the foreseeable future.
The US is experiencing a steady increase in international and domestic student numbers, which has resulted in a rise in the demand for student accommodation in residential settings. Cities with renowned universities have been particularly responsive to this trend. Student accommodation in the region can be found in the form of traditional dormitories, purpose-built student housing (PBSA), private apartments, homestays, and other forms of accommodation. PBSA is gaining popularity due to its convenient features and services tailored to the needs of students. US student housing has seen an increase in investment from both domestic and international investors, leading to the development of advanced and contemporary student housing complexes.
US Student Accommodation Industry Segmentation
A student accommodation is a well-maintained, professionally managed residence for students. They typically include common areas such as a lounge area, dining area, kitchen area, and bathrooms. The accommodation is provided on a daily or weekly basis.
The US student accommodation market is segmented by type (homestays, student apartments, on-campus housing, off-campus housing, dormitories, other types), by service type (Wi-Fi, laundry, utilities, dishwashers, parking), and by application (graduates, sophomores, post-graduates, other applications).
The report offers market sizes and forecasts for the US student accommodation market in USD for all the above segments.
By Type | |
Homestays | |
Student Apartments | |
On-Campus hosuing | |
Off-Campus Housing | |
Dormitory | |
Other Types |
By Service Type | |
Wi-Fi | |
Laundry | |
Utilities | |
Dishwasher | |
Parking |
By Application | |
Graduates | |
Sophomore | |
Post-Graduates | |
Other Applications |
US Student Accommodation Market Size Summary
The US student accommodation market has seen significant growth, with revenue generation increasing in the current year. The market is expected to continue this upward trend in the forecast period, with a compound annual growth rate (CAGR) indicating a robust and steady growth. The reopening of educational facilities post-COVID-19 has led to a surge in demand for student accommodation, with an associated rise in accommodation prices. This has further bolstered the confidence of student accommodation providers, as reflected in the increase in pipeline projects. The market is experiencing a rise in demand for student accommodation in residential settings due to an increase in both international and domestic student numbers. The popularity of purpose-built student housing (PBSA) is on the rise, with investment in the development of advanced and contemporary student housing complexes also increasing. Major cities with renowned universities are particularly responsive to this trend. The future of the US student accommodation market looks promising, with opportunities for discerning investors continuing to be present.
Explore MoreUS Student Accommodation Market Size - Table of Contents
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1. MARKET INSIGHTS AND DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Continued Expansion of Higher Education
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1.2.2 The Surge in the Number of International Students
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1.3 Market Restraints
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1.3.1 Affordability and Shortage of Supply
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1.3.2 High Cost for International Students
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1.4 Industry Attractiveness - Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitutes
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1.4.5 Intensity of Competitive Rivalry
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1.5 Insights on Current Trends and Innovations in the Market
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1.6 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Homestays
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2.1.2 Student Apartments
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2.1.3 On-Campus hosuing
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2.1.4 Off-Campus Housing
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2.1.5 Dormitory
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2.1.6 Other Types
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2.2 By Service Type
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2.2.1 Wi-Fi
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2.2.2 Laundry
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2.2.3 Utilities
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2.2.4 Dishwasher
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2.2.5 Parking
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2.3 By Application
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2.3.1 Graduates
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2.3.2 Sophomore
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2.3.3 Post-Graduates
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2.3.4 Other Applications
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US Student Accommodation Market Size FAQs
What is the current US Student Accommodation Market size?
The US Student Accommodation Market is projected to register a CAGR of greater than 6.5% during the forecast period (2024-2029)
Who are the key players in US Student Accommodation Market?
COAST, EdR, Aspen Heights, Peak Campus and Greystar Advantage are the major companies operating in the US Student Accommodation Market.