Virginia Tech Expects Its Largest Freshman Class This Fall

Virginia Tech expects to welcome its largest freshman class this fall.

Below is a news article from the Associated Press describing the increase in freshman to Virginia Tech this fall. The fact that they are dropping the on-campus housing requirement for freshman is a big deal. The student population in Blacksburg compared to the number of bedrooms available to rent is tight already. Taking an additional 650+ students and pushing them into an already crowded market is going to do one thing. Raise rents! The additional students will mean we need another 225 units (3 beds each) on average to handle the surplus of students. This matters if you are considering investing in Blacksburg. I can't tell you where rents top out or at what rate they will rise, but THEY WILL RISE. 

The market is already competitive, and with this news circulating, it's only going to get worse. If you're looking to buy student housing make sure you have a Realtor with adequate market knowledge so they can help you win in multiple offer situations.  

 

BLACKSBURG, Va. (AP) — Virginia Tech expects to welcome its largest freshman class this fall.

The Roanoke Times reports the school expects its 2019 freshman class to have about 7,500 students, breaking its previous record 2017 freshman class size of 6,836. The Blacksburg school has dropped its on-campus housing requirement for first-years in anticipation.

University spokesman Mark Owczarski says more students decided to attend the school than anticipated. Engineering education professor Marie Paretti wrote a letter to the Tech Faculty Senate saying the larger class size should've been expected, as per faculty predictions shared with administrators.

Paretti says the increase in students will strain the area. Mayor Leslie Hager-Smith says the town is braced for growth, but she is concerned about its ability to house and transport the growing student population.