The average discount was 10.8% in March, which equates to six weeks free on a 12-month lease. The number of units offering a concession rose to 16.9%.
Percentage utilizing concessions:
- Class A (14.5%)
- Class B (15.0%)
- Class C (21.5%)
Average discount:
- Class A (11.1%)
- Class B (10.6%)
- Class C (10.8%)
Geographic concession usage:
- South (21.2%)
- West (16.4%)
- Northeast (12.6%)
- Midwest (10.2%)
Source: RealPage
Multifamily Market News 