Concessions

Class C Is Giving Away the Most Rent in 25 Years

The average U.S. concession hit 11.1% — the deepest monthly discount in over two decades — and value-tier assets are cutting hardest.

The FYN Intelligence Team4 min read

The renter's market kept deepening in June. RealPage puts the average U.S. concession at 11.1% — the deepest monthly discount in more than 25 years — and Zillow independently shows 39.7% of listings now carry a deal, up from 35.2% a year ago.

Concession usage runs 20.7% in Class C versus 15.1% Class B and 13.7% Class A.

The pain isn't evenly spread

Concession usage runs 20.7% in Class C versus 15.1% in Class B and 13.7% in Class A. That inverts the usual playbook — the value-tier assets giving the most away are exactly where a resident lost to a competing deal is hardest to backfill.

Sources

  1. RealPage — U.S. Apartment Concessions, June 2026
  2. Zillow Research — April 2026 Rent Report (concession share)

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