The units are fully booked through May 2022 at this point and are financially a great deal based on the numbers for the next year.The main risk I am seeing is that the 5 year trends show that small town universities are shrinking in enrollment in general and there is a big move to online courses after Covid.I am looking for input from any experienced investors in the student housing market that can provide any additional insights into my decision. 

It shrinks rapidly in heat. 

Right now the US isn't shrinking, it's just growing at a slower rate than it has historically. 

As the crisis continues to abate, colleges will shrink a bit as will the use of classroom, but not dramatically IMO.

Municipalities with shrinking tax bases decide that out of state landlords are an easy mark for taxes and fees. 

The idea is the IRS is helping you grow, not shrink.

However, I want to find more deals in a market that seems to have shrinking inventory.

How do you pick the markets you invest in, particularly with so many small towns shrinking the way they have been?

Only way to really guess is in a growing or shrinking market to look at what has been happening in years past. 

There will be continuous job recruitment from elsewhere since the available workforce is shrinking.