I often get asked this question, and usually reply……“Well, it all depends. “
The “it” in this case is the “When” and that WHEN depends on WHAT type of apartment or housing is being sought.
The housing market around UK campus trends in different cycles depending on the number of beds sought. In general, larger properties (with respect to the number of bedrooms) tend lease and go off market earlier than smaller properties. Why? The reason is simple economics—the more bedrooms / property, the cheaper the price / bed.
Cost-conscious students tend to group with their friends to save money. As the market availability for rental houses around the University of Kentucky dwindles, student groups fragment and search for 3-BR and 2-BR properties. When the availability of 3-BR apartments becomes scarce, demand shifts towards 2-BR apartment buildings. Once the majority of 2-BR properties have been leased, then students scramble for 1-BR apartments.
Now, back to the question of “When”……in order to get a better sense of how apartments around UK have historically leased, please refer the table chart below.