Housing market rent incentives hit a 12-year record as lower demand and higher supply drive apartment concessions

Finally, some good news for renters: Housing rental market concessions are at their highest level in over a decade, as lower demand and higher supply drive landlords to compete for prospective tenants by offering all sorts of incentives and freebies. Let’s take a look at the numbers. In January, 16.6% of stabilized apartments in the U.S. were offering some type of concession, one point higher than the previous month, and the highest since over a decade ago in 2014, according to RealPage Market Analytics, as reported by CNBC. What is a rent concession? Rent concessions are generally onetime ...