Higher Education, Student Housing, and the Local Community

Analysis by Thomas LaSalvia et al.

As students begin another year of college, many are partaking in a learning style that they didn’t sign up for (online), in a place they didn’t want to be (home). As of August 28, more than 400 colleges and universities have announced a “primarily online” or “fully online” fall semester, with many institutions going a step further and requiring students, faculty, and staff to remain completely away from campus.

The immediate demand-side shock to the student housing sector may be substantial, and spillover effects into the multifamily, retail, and lodging areas are quite probable. In this paper, we discuss the geography and magnitude of the coronavirus’s impact on student housing and the broad commercial real estate (CRE) market.

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Thomas P LaSalvia, PhD ® is a Senior Economist in the research and economics department at Moody’s Analytics REIS.

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Looking for additional insights? Explore our interactive COVID-19 map to analyze the potential impact on commercial real estate markets.

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You may also find our website dedicated to COVID-19 to be helpful during this time. Visit moodys.com/coronavirus for our latest research and views on the credit and economic impact of COVID-19. This site brings together insights from across Moody’s to help you better understand the financial implications of the outbreak.