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Nearly 6 in 10 DC-Area Rental Listings Are Offering a Concessions

  • May 29th

by UrbanTurf Staff

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If you're apartment hunting in the DC region right now, landlords want your attention — and they're willing to pay for it. 

According to a new report from Zillow, nearly 58% of rental listings in the area are currently offering some kind of concession, whether that's free rent, waived fees, or a discounted move-in. That's up nearly 7 percentage points from a year ago, and well above the national average of 39.8%.

That puts DC among the more concession-heavy markets in the country, trailing Denver, Charlotte, and Dallas but running notably ahead of cities like Philadelphia (34.3%) and Boston (31.1%).

The broader backdrop is a rental market that has gradually shifted in renters' favor over the past couple of years. A wave of new apartment construction across the DC region has added inventory, pushing vacancy rates up. Nationally, the rental vacancy rate has climbed to 7.3%, up from 5.6% in 2021 when competition for apartments was at its most feverish.

See other articles related to: apartment living, dc apartment market, dc apartment rents

This article originally published at https://dc.urbanturf.com/articles/blog/nearly_6_in_10_dc-area_rental_listings_are_offering_concessions/24673.

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