Landlords in Lincoln have said they may be forced to sell their properties because of new university flats.
The warning comes as more than 600 student flats remain unoccupied - three days in to the of the academic year.
Estate agents say they have seen a drop in interest involving houses which would previously have been bought for students to rent.
Over the summer the University of Lincoln has built around 650 new flats in the heart of the city.
Janet Cook, the external accommodation officer for the university, confirmed a new £30m development for students in Lincoln seems to be their new top choice.