This research paper aims to explore these nuances as they apply to student affordable housing. The challenges posed by post-secondary student housing to legislators are multifaceted, encompassing issues on urban planning such as neighborhood disturbances and resident displacement as well as increasing enrollment leading to a growing number of students housed off-campus in private markets, and require a coordinated approach to policy research. This involves exploring topics such as dwelling standards, licensing regulations, zoning laws, and other relevant regulatory policies (Revington et al. 2018). To provide a more focused examination of these complex issues, this research centers on the city of Waterloo as a case study of student housing dynamics. Waterloo presents a unique case due to its distinctive housing supply structure. A mid-sized city with a population of less than 120,000, Waterloo has the highest concentration of privately built-for-rent student housing supply in Canada. Specifically, over 42% of all private purpose-built student accommodation (PBSA) in the country, equivalent to more than 17,500 beds, is located in Waterloo. According to the City’s official housing needs and demand analysis (City of Waterloo 2020), an estimated 18,035 students resided off-campus in 2019, meaning the majority were housed by private PBSA. The emergence of PBSA (purpose-built student accommodation) in other countries is well-documented, with 12% and 23% of post-secondary students in the US and UK respectively residing in such housing. (Revington 2019). Mid-sized cities in these countries, often with weaker property markets compared to major cities, have increasingly relied on PBSA to meet the housing needs of students (Heslop et al. 2023). While approximately 38-42% of students reside in PBSA in Waterloo, only 3% of post-secondary students in the rest of Canada live in PBSA (Revington 2019). Given the persistent supply shortage in student housing across Canada, PBSA could be a viable solution to address this gap. By examining the PBSA market in Waterloo, this research aims to understand the factors that contribute to its success and explore whether similar models could be implemented effectively in other Canadian cities. The case study of Waterloo provides valuable insights into how PBSA can fill the housing supply gap and potentially offer a blueprint for other mid-sized cities facing similar challenges.