U.S. apartment concession use was relatively unchanged in April according to data from RealPage Market Analytics. Nationwide, average concession usage among stabilized units ticked down a modest 0.1 point to 16.9% in April 2026. This marked a 4.4-point increase year-over-year and remains near the highest average level of monthly concession activity since mid-2014. The average discount increased 0.2 points on a monthly basis and 1.9 points year-over-year, averaging 11% in April 2026. Across stabilized U.S. apartment stock, that concession level equates to nearly six weeks free on a 12‑month lease. Concessions have generally trended upward since reaching a decade low of 5.5% in mid-2016 and remain at their highest level since the post–Great Financial Crisis period (2010). Across product classes, Class C units continued to utilize concessions at markedly higher rates, averaging 23.4% in April. Class A (13.2%) and Class B (14.5%) usage posted mild decreases on a monthly basis. Average discounts remained consistent in March. Class A held the highest level at 11.1%, roughly unchanged over the past seven months. Discounts in Class B (10.7%) and Class C (11.1%) also aligned closely with recent averages.
