The Student Housing Market During Times of Economic Downturn
The Student Housing Market During Times of Economic DownturnOne big advantage of renting to students is that the market for student apartments tends to be recession proof. According to Tiffany Yelverton, president of Creative Apartment Marketing, LLC, a training and marketing consulting firm for the apartment industry, if an apartment community is near a campus and the apartments are priced fairly and maintained well, an owner will never run out of students, regardless of the state of the economy. During economic downturns, the demand for student housing may increase as more people decide to pursue advanced degrees or to stay in school longer.
In Atlanta, construction is set to begin soon on a 201-unit graduate student apartment complex just north of Emory University. The $27 million project is a joint effort of Emory and Philadelphia-based builder Campus Apartments. Emory owns the property and is leasing it to Campus, which will design, build and manage the facility. The developer will cover the cost of construction.
The supply is there. College enrollment is surging across the country as the children of the Baby Boom generation enter university classrooms. Read the upcoming issue of Apartment Building Management Insider to learn more about the student housing market and marketing strategies for attracting students to your apartment community.
Source: Apartment Building Management Insider, Atlanta Journal-Constitution
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