Lower vacancies for student housing

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I've been hearing claims that vacancies tend to be lower for student housing. I don't have any property like this, so I want to ask if it really is typical at least in some regions for vacancies for student housing to be under 2%?

I have no experience here, so I'm asking. Seems to me that some students might leave in the summer. Seems to me that students these days often do not complete a 4 year degree program and even if they did might not stay in one place that long. I may be missing something here though.

I'm sure that there are regional issues as well.