Only Five States Kept Pace with Dorm Room Demand
WASHINGTON, D.C. – May 30, 2012 – (RealEstateRama) — A 38.7 percent increase in university enrollment over the past decade is creating a shortage of on-campus housing nationwide, according to a new white paper from the National Multi Housing Council’s (NMHC) National Student Housing Council (NSHC). The analysis utilized U.S. Department of Education and U.S. Census Bureau data between 2000 and 2010 to identify on-campus housing needs across the country.
“The tremendous size of Generation Y, combined with economic uncertainty, have pushed enrollment to new heights over the past decade,” said Jim Arbury, NMHC’s Vice President of Student Housing. “This has put tremendous pressure on universities across the country as they attempt to keep up with the demand for on-campus living, offering a new opportunity for student housing firms.”
Highlights from the white paper include:
The 38.7 percent increase in enrollment led to a 21.4 percent growth in the number of students living off campus.
While every state saw enrollment increases, Arizona, District of Columbia, Georgia, Iowa, Minnesota and West Virginia experienced some of the greatest surges in enrollment.
Most states have been unable to maintain the same percentage of students housed in dorms. States with the highest on-campus shortages are Arizona, District of Columbia, Indiana, Iowa, Minnesota, Nevada and Oregon.
Only five states (California, Florida, Hawaii, Maryland and Utah) have been able to provide enough additional dorm beds to maintain dorm residency levels against growing enrollments.
For more information, visit www.nmhc.org/goto/60808.
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The National Student Housing Council (NSHC) is a subsidiary of the National Multi Housing Council (NMHC). The NSHC is comprised of the leading private, off-campus student housing developers, owners, lenders, brokers and related service providers. Its mission is to encourage information exchange and conduct research to help inform investment decisions and further best practices. For more information, contact NSHC at 202/974-2300, e-mail the Council at , or visit NSHC’s web site at www.nmhc.org/goto/StudentHousing.
Jim Lapides, 202/974-2360,