Apartment concessions hit highest level in over a decade

Skip Navigation Markets Business Investing Tech Politics Video Watchlist Investing Club PRO Livestream Menu Key Points Nationwide, 16.6% of stabilized apartments offered concessions in January, according to RealPage Market Analytics. That's an increase from December as high supply and weakening renter demand dent the multifamily market. The average January discount was 10.7%, or roughly five weeks of free rent. A version of this article first appeared in the CNBC Property Play newsletter with Diana Olick. Property Play covers new and evolving opportunities for the real estate investor, from individuals to venture capitalists, private equity funds, family offices, institutional investors and large public companies. Sign up to receive future editions, straight to your inbox. High supply and weakening renter demand have apartment landlords living in an ever-more competitive space. As a result, they are offering more concessions. Nationwide, 16.6% of stabilized apartments offered conc