University of Michigan-Ann Arbor

Enrollment

Of 52,855 students enrolled in fall 2024, 34,454 were undergraduates and 18,401 graduate students. 3% studied exclusively online, students who don't need a bed near campus. Headcount rose by 790 from fall 2023 (+1.5%).

Housing the college controls

IPEDS counts 11,607 beds of institutionally controlled housing for 2024-25. That figure is the school's own capacity, on or off campus, so it includes halls the college leases or manages but not private buildings that simply market to students. Capacity shrank by 24 beds from the year before (11,631 in 2023-24).

What students pay

The school can't split food from housing, so it reports one combined 2024-25 charge: $15,328 for the academic year. Its aid office budgets $15,328 for food and housing for a student living off campus away from family.

Those are the college's own figures. Private by-the-bed rents near campus can sit well above or below them, so check current asking rents before you underwrite a project.

How lenders read a campus like this

With 52,855 students, most of them full-time, the campus clears the 10,000-student minimum in Fannie Mae's Multifamily Guide for Dedicated Student Housing (Part III, Chapter 1, section 103.01, effective September 28, 2026). Under sections 103.01 and 103.03 a property still has to sit within 2 miles of the campus boundary or near a college-run transit line, have operated a full school year, and lease at least 80% of units for 12 months.

To size a specific property, use the student housing loan sizer. It works by the bed and shows which constraint sets the loan.

Among the 19 Michigan campuses on this site, University of Michigan-Ann Arbor ranks first by full-time students beyond college housing. See the Michigan table.