10/09/2026
Apartment concessions are easing. They're still costly.
The share of U.S. apartment units offering concessions dipped to 15.4% in August, down from a 17% spring peak. But the discounts themselves got bigger.
🔹 15.4% of units offered concessions in August, vs. 14.5% a year earlier
🔹 The average concession reached 11% of annualized rent, up from 9.7%, or roughly 5.7 weeks free on a 12-month lease
🔹 Austin (35.3%), San Antonio (33%) and Denver (32.3%) led the country
Concessions follow new supply. Record deliveries in 2024 and 2025 are still being absorbed, and owners are paying to win move-ins. That's why we put resident retention first: a renewal never needs a move-in special.
👉 Where do you think concessions go from here? Tell us in the comments.
Source: RealPage Market Analytics data cited by Trepp, via GlobeSt