University of South Florida Year-End Market Report for the 2018-19 academic year. This report highlights recent trends, university initiatives, enrollment data, rental data, and occupancy data.
2. RENTAL DATA
CONTENTS
UNIVERSITY HIGHLIGHTS04
07
OCCUPANCY DATA09
CAMPUS MAP11
CAMPUS GROWTH INITIATIVES13
ABOUT US
KEY TAKEAWAY
The 2018/2019 academic year was one that will be recognized as a foundational year for
the university’s future enrollment growth and academic strength. Following its June 2018
designation as a Preeminent State Research University, the third of its kind in Florida, USF
realized its highest academic ranking in school history. This upward movement in the
academic rankings moved USF to the No. 58 spot among all public universities. In
addition to USF’s academic improvements, they also engaged the consulting firm CSL to
conduct a comprehensive study into the feasibility of an on-campus football stadium. The
study found that USF has demand for a 35,000 seat stadium to be constructed on-
campus. Upon constructing an on-campus stadium, USF believes it will be the last step to
providing a world-class campus identity.
Benjamin N. Skinner is an Investment Associate focused on student housing assets
throughout the Southeast region and is based in Tampa, FL. Prior to his current role, Ben
worked with IPA Student Housing Development, American Campus Communities, Asset
Campus Housing, and Carriera Regan Multifamily Advisors. Throughout his career in real
estate, Ben has worked on multifamily, student housing, historic, and institutional mixed-
use real estate valued at over $4 billion.
Matthew W. Prozzillo is an Investment Associate focused on student housing assets
throughout the Southeast region and is based in Tampa, FL. Prior to his current role, Matt
excelled as a Financial Analyst and Investment Associate with Carriera Regan Multifamily
Advisors. In this role, he exclusively represented buyers and sellers of student housing and
market rate properties throughout the Southeast and multifamily properties throughout
the North/Central Florida markets. Matt has worked on market rate and student housing
assets valued over $4 billion.
4. MARKET DATA
4UNIVERSITY OF SOUTH FLORIDA | UNIVERSITY HIGHLIGHTS
43,838
TOTAL
ENROLLMENT
$6,410
IN-STATE
TUITION
32,238
UNDERGRAD
ENROLLMENT
$17,324
OUT-OF-STATE
TUITION
11,600
GRADUATE
ENROLLMENT
$9,820
ROOM AND
BOARD
5.50%
FIVE–YEAR
ENROLLMENT GROWTH
-4.90%
YoY APPLICATION
GROWTH
46.90%
2018
ACCEPTANCE RATE
3.97
AVERAGE
HIGH SCHOOL GPA
TOTAL ENROLLMENT AND ENROLLMENT GROWTH
KEY TAKEAWAYS
1) In June, 2018, USF was officially designated as a Preeminent State Research University, making it only the third Preeminent university in
the state of Florida. This will provide USF with $6.15 Million of additional funding on an annual basis.
2) Upon receiving Preeminent designation, USF was rewarded by receiving it’s highest ranking ever from U.S. News & World Report in
2019. USF was the fastest rising university, seeing it’s rankings move from No. 94 to No. 58 among all public universities.
3) With strong football programs acting as a driving force behind a university’s enrollment growth, USF recently conducted a
comprehensive study to identify strategies regarding the construction of a state-of-the-art on-campus football stadium.
-3.0%
-2.0%
-1.0%
0.0%
1.0%
2.0%
3.0%
4.0%
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
50,000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018F 2019F 2020F 2021F 2022F
Enrollment(L) Enrollment Growth(R) AxioMetrics
5. 5
#22 BEST GRADUATE CRIMINOLOGY PROGRAM
ACADEMIC RANKINGS
#41 BEST GRADUATE NURSING SCHOOLS
#52 BEST MEDICAL RESEARCH SCHOOLS
#58 TOP PUBLIC SCHOOLS
43,838 FALL 2018 TOTAL ENROLLMENT
UNIVERSITY DATA
32,238 FALL 2018 UNDERGRADUATE ENROLLMENT
5.50% FIVE–YEAR ENROLLMENT GROWTH
$442M 2017 ENDOWMENT
#124 TOP NATIONAL UNIVERSITIES
#17 BEST GRADUATE AUDIOLOGY PROGRAM
STUDENT LIFE DATA
82% OF UNDERGRADS LIVE OFF-CAMPUS/COMMUTE
20 AVERAGE AGE OF FULL-TIME STUDENTS
15% % OF STUDENTS AGE 25 AND OLDER
UNIVERSITY FACTS
48,000 PROJECTED 2020 TOTAL ENROLLMENT
#147 BEST BUSINESS PROGRAMS
POPULATION MIGRATION BENEFITS
“‘Population trends will leave institutions in some parts of the
country without enough traditional-age local students to fill
classrooms, while stretching others’ capacity.’ ‘The pool of
high school graduates is projected to become less white, more
Hispanic and Asian/Pacific Islander, and increasingly
located in the South over the coming years, according to a
new set of projections in a report released by the Western
Interstate Commission for Higher Education.’”
USF’s location at the heart of the Tampa Bay MSA and within
proximity to the Orlando MSA and I-4 Corridor, indicates
strong future enrollment growth. Both Tampa and Orlando
ranked in the top ten fastest growing MSA’s, with the I-4
Corridor ranking as the 4th largest growth rate in the nation.
#7 NUMBER OF U.S. PATENTS GRANTED
AMONG PUBLIC UNIVERSITIES
19 NCAA DIVISION I SPORTS TEAMS
5 NCAA FOOTBALL BOWL VICTORIES
109 CONFERENCE CHAMPIONSHIPS
600+ STUDENT CLUBS & ORGANIZATIONS
UNIVERSITY OF SOUTH FLORIDA | UNIVERSITY HIGHLIGHTS
7. $982
$732
$655
$592
$0 $200 $400 $600 $800 $1,000
ON-CAMPUS HOUSING
< 0.5 MILES
> =0.5 AND <1.0 MILES
> =1.0 MILES
OFF-CAMPUS RENTAL TRENDS
7UNIVERSITY OF SOUTH FLORIDA | RENTAL DATA
EFFECTIVE RENT/BED COMPARISON
$655
AVERAGE OFF-CAMPUS
EFFECTIVE RENT
=0.5 MILES & < 1.0 MILES
$732
AVERAGE OFF-CAMPUS
EFFECTIVE RENT
< 0.5 MILES
$592
AVERAGE OFF-CAMPUS
EFFECTIVE RENT
>= 1.0 MILES
$982
AVERAGE ON-CAMPUS
RENT
* Effective rent represents adjustments made for utilities and concessions - AxioMetrics
ON-CAMPUS HOUSING RENTAL RATES
Property Unit Type Rent Per Semester Rent Per Academic Year Rent Per Month
Beta Hall, Castor Hall, The Village (Double) Traditional Style $3,356 $6,712 $746
Castor Hall, The Village (Single) Traditional Style $4,697 $9,394 $1,044
Cypress, Juniper, Maple and Poplar Hall & The Village (Double) Suite Style $4,155 $8,310 $923
The Village (Single) Suite Style $5,658 $11,316 $1,257
Kosgrove and Magnolia Apartments (Double) Apartment Style $3,985 $7,970 $886
Cypress, Holly, Kosgrove and Magnolia Apartments (Single) Apartment Style $4,675 $9,350 $1,039
Averages $4,421 $8,842 $982
* Rent Per Month is calculated on a nine-month (two semester) basis and does not include additional fees incurred such as meal plans, activity fees, etc.
11. 11
USF CAMPUS MAP
UNIVERSITY OF SOUTH FLORIDA | UNIVERSITY HIGHLIGHTS
RESEARCH
PARK
COLLEGE OF
BUSINESS
USF HEALTH
CAMPUS
USF
ATHLETICS
ON-CAMPUS
HOUSING
GREEK
VILLAGE
NEW PUBLIX
GROCERY STORETHE VILLAGE
USF BOOKSTORE &
STUDENT CENTER
YUENGLING
CENTER
MAIN
QUAD
13. INVESTING IN ATHLETICS
13UNIVERSITY OF SOUTH FLORIDA | CAMPUS DEVELOPMENT
RECENT ATHLETIC SUCCESS
NOTABLE ACHIEVEMENTS
- 210 American Athletic Conference All-Academic Team Members
- 18 American Athletic Conference Championships in Six Years
- 17 NCAA Postseason Appearance in Two Years
- 4 Football Bowl Game Appearances in Five Years
- 2018/19 – Men’s Basketball CBI National Champions
CASE FOR AN ON-CAMPUS STADIUM
FUNDRAISING EFFORTS
DRIVE FOR 4,000 CAMPAIGN
- Goal to Grow Athletic Donor Membership to 4,000
- 2019 Membership Grew 6.8% to 3,400 Donors
USF FOOTBALL CENTER
- $20 Million Funding Target Achieved
- Ground-Breaking Slated For 2020
ATHLETICS’ IMPACT ON STUDENT HOUSING INVESTMENT
“The proposition is straightforward. ‘It’s the quality of the education, it’s the quality of the experience and, believe it or not, a lot of that is related to athletics,’”
- Greystar Student Housing
PROJECT DETAILS
- Feasibility Study Found Demand for a 35,000 Seat Stadium
- Projected Budget: $240 Million
- Projected Annual Revenue: $10 Million
POTENTIAL LOCATIONS
- West Campus: North of Fowler, East of Bruce B. Downs
- East Campus: Corner of Fowler Avenue and USF Bull Run Drive
STUDY FINDINGS
- USF and CSL International determined that USF shall wait to build an on-campus stadium until
the USF Football Center is complete and funding is secured to build a state-of-the-art stadium
14. RECENT CAMPUS DEVELOPMENTS
14UNIVERSITY OF SOUTH FLORIDA | CAMPUS DEVELOPMENT
THE VILLAGE | 2,171 BED RESIDENTIAL VILLAGE
COMPLETED 2017/2018
THE FIT | 20,000 SQFT FITNESS CENTER
COMPLETED 2017
GENSHAFT HONORS COLLEGE | 58,024 SQFT
$59,789,000 PROJECTED COST
$22,300,000 GIFT IN HAND
ENGINEERING BUILDING 4 | 250,000 SQFT
CURRENTLY IN PLANNING STAGE
THE HUB | 19,000 SQFT DINING HALL
COMPLETED 2017
MORSANI COLLEGE OF MEDICINE | 394,000 SQFT
UNDER CONSTRUCTION
*Located in Downtown’s Water Street Tampa Development
