Auburn, AL, Auburn University
Auburn
- Verdict
- Pursue
- Rank
- 1/3
- Score
- 98/100
Why pursue Auburn?
97.2% occupied, same-store rent compounding at 8.9% a year, and a downtown moratorium that keeps the next delivery (825 beds) out to fall 2028.
- Occupancy
- 97.2%
- +1.4 ptsYoY
- Same-store rent
- +7.2%
- −5.0 ptsYoY
- Rent CAGR, 2 yr
- 8.9%
- n = 28 properties
- Avg asking rent
- $1,121/bed/mo
- +8.4%YoY
- Median rent
- $1,105/bed/mo
- p75 $1,446
- Beds below 90%
- 8.5%
- −1.8 ptsYoY
Trend
Occupancy held near 97% while same-store rent compounded 8.9% a year
Stabilized occupancy
Same-store asking rent, $/bed/mo
Property occupancy
8.5% of Auburn's operating beds sit below 90% occupied
Each dot is one operating property in Oct-26; area is beds. Filled dots are below 90% (two properties). Pre-delivery buildings are excluded.
Pipeline and lease-ups
No pre-delivery beds in the comp file; 825 beds are announced for fall 2028
| Property | Beds | Delivery | Source |
|---|---|---|---|
| The Mark Auburn | 825 | Fall 2028 | Press report |
Comp-file pipeline = rows at 0% occupancy with an asking rent, i.e. pre-delivery (pre-leasing for fall 2027).
Three buildings opened in the survey window
| Property | Beds | First-year occ. | Rent vs market |
|---|---|---|---|
| Accolade AuburnOpened Oct-25 | 419 | 100.0% | +54.6% |
| The GodBold BuildingOpened Oct-26 | 200 | 100.0% | +35.2% |
| Atlas at Richland RoadOpened Oct-26 | 713 | 88.9% | −18.4% |
Lease-up = 0% in one snapshot, occupied in the next. Rent vs market compares asking rent with that year's bed-weighted market average.
Outside the comp file
- Enrollment, fall 2025
- 35,172students
+3.0% from 34,145 in fall 2024. Business Alabama, Public Universities 2025; Auburn University Bulletin, enrollment statistics
The city imposed a moratorium on new student housing in the Urban Core and Urban Neighborhood–West districts through Nov 30, 2026. It slows competing downtown starts.
The Mark Auburn (825 beds) broke ground downtown in April 2026 and targets fall 2028.
What would change my mind
- The moratorium is extended into a permanent cap that also covers sites LV could control.
- Fall 2027 enrollment growth drops below 1%, so demand stops keeping pace with The Mark's 825 beds.
- Same-store rent growth falls below 3% with occupancy holding, which means the rent run-up has peaked.