Further north, the Dallas-Fort Worth Metroplex continues this pattern, with approximately 22% to 23% of apartment stock offering discounts. These figures, sourced from detailed RealPage analytics, illustrate a highly competitive leasing market where supply-side pressures are widespread across major Texas metros.

Sun Belt Markets Feel Concession Ripple

Texas isn’t the lone region seeing an uptick in concessions. Sun Belt metros like Jacksonville, Phoenix, and Las Vegas—markets that soared during pandemic-driven migration—have shifted to elevated concessions as recent demand cools. RealPage finds that these markets, while not topping the national percentage leaderboard, are featured prominently within the top quartile for both share of units offering discounts and average value of those concessions.

National Trends and Data Insights

Nationwide, more than 14% of apartments were offering concessions in August, with the average discount across all major metros at 9.7%. These numbers undershoot the highest levels seen in Texas and Florida but still mark a broad-based strategy among property owners facing new supply pressures. The data also highlights that, outside of the Texas group, other regions such as Southeast metros and pockets in the Mountain West are quietly increasing their use of concessions in an effort to stabilize occupancy and compete for a shrinking pool of qualified renters.

Strategic Shifts in Leasing

While headlines often focus on overall percentages, the underlying analytics spotlight markets where average concession rates are rising even as the proportion of discounted units stays constant. This means that in some metros—particularly those lagging in absorption—the depth of concession is escalating more rapidly than the spread. Owners are upping the dollar value of discounts rather than expanding the offer to more units, a shift visible in several high-growth markets tracked by RealPage.

Instant Insights /

Here are the Cities With the Biggest Apartment Rent Discounts

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