WASHINGTON, D.C. As American universities confront flattening domestic enrollment and intensifying global competition, international students are becoming increasingly central to the future of higher education—and to the housing markets that support it.
A new report released by the Douglas M. Bibby Research Foundation of the National Multifamily Housing Council (NMHC) paints a detailed portrait of this growing population and the evolving expectations they bring to the student housing sector.
The study, conducted by international research firm BONARD, offers a comprehensive analysis of international student trends through the 2023/24 academic year and looks ahead to the long-term implications for purpose-built student housing (PBSH). Among its most striking findings: international student enrollment in the U.S. hit a record 1.13 million in 2023/24, and those students contributed $43.8 billion to the U.S. economy, supporting over 378,000 jobs nationwide.
“This new research will help rental housing providers and developers build the student housing best suited to the changing needs of the international students who come to the U.S. for a higher education,” said Caitlin Sugrue Walter, NMHC’s Senior Vice President for Research. “As domestic enrollment begins to plateau or even decline in some cases, we need to make sure our institutions remain attractive and provide value to students from other nations.”
For the first time, India has surpassed China as the largest source of international students in the U.S. Between 2018 and 2023, enrollment from India surged by 111%, while other emerging markets also saw major growth—Bangladesh (+99%), Ghana (+136%), and Nigeria (+50%) among them. Meanwhile, more established markets like China and South Korea have stabilized or declined, a trend the report attributes to domestic improvements in education systems, rising geopolitical tensions, and long-term demographic shifts.
The U.S. continues to lead as the top global destination for international students, primarily due to its globally ranked universities, cutting-edge research institutions, and access to the Optional Practical Training (OPT) program, which enables international students to gain work experience for up to three years after graduation—especially valuable for those in STEM (science, technology, engineering and mathematics) fields.
According to the report, the growth in international students is now being driven more by graduate programs than undergraduate enrollment. “High undergraduate tuition fees in the U.S., coupled with strong undergraduate systems in many source countries, lead students to prioritize graduate studies,” the study notes. In particular, STEM-related degrees are viewed as a pathway to career mobility, better job prospects, and long-term U.S. residency.
The NMHC study also explores how the housing preferences of international students are evolving, particularly in the aftermath of the COVID-19 pandemic. Demand for luxury student housing has declined significantly. Instead, affordability and access to essential amenities—like kitchens, Wi-Fi, laundry, and security—are top priorities.
Privacy has become an increasingly important consideration, driven by rising social anxiety and a greater need for personal space. The report notes that private bedrooms and bathrooms are in high demand, especially among graduate students, who also prefer apartment-style or family housing with longer lease terms and the flexibility to live further from campus. By contrast, undergraduates prioritize proximity, safety, and social integration, often favoring on-campus or near-campus housing options.
Despite the growing desire for privacy, the report emphasizes the continued importance of shared spaces to help foster community and reduce feelings of isolation. Common areas, study lounges, communal kitchens, and programming that promotes socialization remain vital components of healthy student environments.
The report calls on housing providers and institutions to be more culturally responsive in their design and operations. International students often come from collectivist cultures, making communal cooking spaces, prayer rooms, and culturally sensitive customer service key to retention and satisfaction. Multilingual signage, diverse staffing, and programs that bridge cultural gaps can also help international students feel more welcome and engaged.
In interviews with university housing officers, many stressed that housing challenges are among the most common sources of stress for international students.
“Affordability is an acute concern, especially given rising tuition and limited work options,” one officer in the report noted. “We need to meet these students where they are—not just academically, but holistically.”
The report projects steady growth in international student enrollment through 2030, with an anticipated 1.6% annual increase, driven largely by graduate students. In light of this, the NMHC urges policymakers, developers, and institutions to coordinate more closely in ensuring that affordable, inclusive, and flexible housing options are available.
It also encourages a rethinking of leasing practices, such as making room for short-term or delayed arrivals due to visa issues and providing flexible move-in dates. Moreover, international students are seeking clearer guidance on legal requirements, tenant protections, and lease terms—areas where support is currently lacking.
In a time when universities are under pressure to remain globally competitive and financially sustainable, international students represent not just a vital revenue stream, but a culturally enriching force that is reshaping campus life—and the housing ecosystem that supports it.
“The takeaway is clear,” said Walter. “International students are not just passengers in the system—they are shaping it. And if we want to remain a global destination for talent, we need to build smarter, more responsive housing and support systems that reflect who today’s students really are.”
