Landlords Offer Concessions as Rental Market Cools
Nearly 40% of landlords are offering concessions such as free rent or waived fees to attract tenants in a cooling rental market. Rent growth has slowed to its weakest pace since 2020, with asking rents at $1,910, up 1.8% year-over-year. This trend is attributed to increased supply of apartments and slower rent growth compared to income growth, easing affordability pressures slightly.
Topics: affordability housing supply real estate market rent growth rental concessions