Apartment Concessions Hit 11-Year High

Concessions Surge in Early 2026

US apartment concessions activity climbed in January 2026, reversing a dip seen in December 2025. Recent data from RealPage Market Analytics shows 16.6% of stabilized apartments nationwide offered some form of rent concession, up a full point from the previous month and reaching the highest level since mid-2014.

Discount Trends by Property Class

Concessions deepened most in Class B and C apartments, rising 0.4 points since October to settle at 10.3% and 10.8% discounts, respectively. Class A units continued to post the most significant concession rates at 11%, though this figure has remained stable in recent months. Notably, concession usage was most widespread in Class C product, where nearly one in four properties offered a discount in January. In contrast, only 12.5% of Class A and 14.6% of Class B apartments reported concession activity.

Floorplan and Market Outlook

Across different floorplans, concession offers were relatively consistent, with one-, two-, and three-bedroom units aligning with the national average. However, efficiency units showed weaker performance, as 19% of these apartments provided discounts averaging 12.1%. Industry observers point to ongoing competitive pressures and high supply as contributing factors to the persistent concessions trend, a dynamic playing out nationwide as new deliveries push operators to increase incentives to maintain occupancy levels.