Moving to a new apartment is exciting! A new location, different amenities, maybe even extra closet space. But moving can put a dent in your budget, especially when you factor in all the relocation fees. Luckily, you can offset some of those costs if you can find an apartment with a move-in special.
Not all apartments offer move-in specials. The availability depends on a variety of factors, including the area’s vacancy rate and even the time of year. They’re easier to find in some cities than in others, as well. But before we get to that, let’s cover the basics.
What Is a Move-In Special?
A move-in special, also called a rent concession, is a limited-time offer apartment communities use to attract new renters or retain current ones. Move-in specials range from deals like one month free, a waived security deposit or other fee, paid utilities, or free use of an otherwise paid amenity, such as a storage unit or garage.
With the average rent in the United States at $1,535, your rent payment is likely the largest bill you have to pay every month. Getting a break, even a small one, can have a big impact on your budget, which is why rent concessions are attractive for renters.
How Apartments.com Helps You Find Move-in Specials
Apartments.com recently added a handy section that helps renters filter for apartments with move-in specials. If you select “All Filters” and scroll down to the section labeled, “Show Only,” you can check the box for “Properties with move-in specials.”
When you return to your search results, you’ll see only apartments offering specials. These are featured on the listing below the price.
Now that you know what move-in specials are and how to find them, where are they most common?
To answer that question, we dove deep into Apartments.com data to find out which cities have the most apartment communities currently offering rent concessions.
Several factors impact move-in specials, including the current vacancy rate. When the vacancy rate in an area is higher than average, there are more apartments available. In this case, an apartment community might offer a move-in special to entice renters to apply.
10 Cities with the Most Move-in Specials
Finding a move-in special largely depends on where you live. Various factors such as local rental market conditions, supply and demand, and seasonal trends can influence the availability of move-in specials. For instance, cities with higher vacancy rates or those undergoing new apartment construction might offer more attractive incentives to attract tenants. Additionally, economic factors and regional cost-of-living differences play significant roles.
To find the cities with the most move-in specials, we looked at the following factors:
- The rate at which rent deals are offered
- How this has changed since last year
- The number of properties with special offers on Apartments.com
- The total number of units where these deals are available
Based on the above, here are the top 10 cities with move-in specials as of July 2024:
10. Santa Monica, California
- The current concession rate in Santa Monica: 1.93%
- Last year’s concession rate in Santa Monica: 1.79%
- Total number of apartments in Santa Monica with concessions: 6,200
The concession rate in Santa Monica increased slightly in the last year, making this beachfront city even more attractive. According to CoStar data, the current vacancy rate in Santa Monica is 8.3%, which is higher than the national average of 6.6%, according to Census.gov. Santa Monica rent prices are down year-over-year by -1.2% for an average rent of $2,990 per month.
If you want to live in a place famous for its beautiful beaches and proximity to Los Angeles, finding an apartment with a move-in special in Santa Monica means you could be strolling along the coastline in no time.
9. Oakland, California
- The current concession rate in Oakland: 2.09%
- Last year’s concession rate in Oakland: 2.92%
- Total number of apartments in Oakland with concessions: 15,106
Even though the concession rate declined in Oakland since last year, this is still an excellent location for finding move-in specials. The current vacancy rate in Oakland is 6.9%, only slightly above the national average, which could be why the number of apartments with move-in specials is declining.
If you want to move to the San Francisco area, Oakland is a terrific option. Rent prices in Oakland are down year-over-year by -3.1% for an average of $1,997 per month. While 30% higher than the national average, this is lower than San Francisco’s average rent of $2,842.
8. Huntsville, Alabama
- The current concession rate in Huntsville: 2.38%
- Last year’s concession rate in Huntsville: 2.43%
- Total number of apartments in Huntsville with concessions: 26,021
The current vacancy rate in Huntsville is 19.2%, more than double the national average. Huntsville’s rent prices are below the national average at $1,080 per month, which is a decrease of -1.7 percent from last year.
Huntsville is a scenic city located in the Appalachian foothills, and it has a strong economy based around high-tech industries, including the development and testing of rockets. The city is home to NASA’s Marshall Space Flight Center and the Redstone Arsenal. Move-in specials in Huntsville make it even easier to enjoy this beautiful location.
7. Tempe, Arizona
- The current concession rate in Tempe: 2.05%
- Last year’s concession rate in Tempe: 1.40%
- Total number of apartments in Tempe with concessions: 27,070
The number of apartment communities offering concessions has increased in Tempe in the past year. The vacancy rate is currently 11.1%, higher than the US average. Rent prices in Tempe are slightly lower than the national average at $1,475 per month.
Tempe is a college town, home to Arizona State University, and you’ll find a variety of apartments, including many with move-in specials, with easy access to campus. It also features beautiful riverfront parks, a thriving arts scene, roughly 200 golf courses, and about 310 sunny days per year.
6. Salt Lake City, Utah
- The current concession rate in Salt Lake City: 1.82%
- Last year’s concession rate in Salt Lake City: 2.14%
- Total number of apartments in Salt Lake City with concessions: 34,370
There’s much to love about Salt Lake City, especially for those who enjoy outdoor activities like rock climbing, hiking, snowboarding, and skiing. Salt Lake City currently has a vacancy rate of 10.9%, and while the current concession rate is lower than last year, there’s still a wide selection of apartments offering move-in specials.
The average rent in Salt Lake City is $1,414, which is 8% lower than the national average. Over the past year, rent prices have decreased by approximately -1.5%. If you find the idea of living near soaring mountains and lush forests appealing, Salt Lake City's stunning landscape is unbeatable.
5. Raleigh, North Carolina
- The current concession rate in Raleigh: 1.79%
- Last year’s concession rate in Raleigh: 1.53%
- Total number of apartments in Raleigh with concessions: 63,117
Raleigh has a lot going for it, from Research Triangle Park to its ideal location between mountains and ocean. Raleigh currently has a vacancy rate of 11.6%, placing it well above the national average. Rent prices have fallen -2% since last year, averaging $1,360 per month, which is 11% below the national average.
If you’ve been thinking about finding an apartment in Raleigh, you’ll enjoy easy access to renowned institutions like Duke University, the University of North Carolina, and North Carolina State University. Raleigh is a beautiful city with charming neighborhoods, making it a great place to live.
4. Nashville, Tennessee
- The current concession rate in Nashville: 2.27%
- Last year’s concession rate in Nashville: 2.42%
- Total number of apartments in Nashville with concessions: 69,578
Known for music and mountains, Nashville is a one-of-a-kind location. From the Grand Ole Opry and Ryman Auditorium to the lively nightlife on Broadway and the historic Parthenon, Nashville has all the entertainment of a big city but with a small-town feel.
Despite a 12% vacancy rate, rent prices in Nashville are starting to trend upward, up 1.1% since last year for an average of $1,648 per month, which is 7% higher than the national average. However, with so many terrific apartments offering move-in specials, it’s a great time to make your move to the Music City!
3. Philadelphia, Pennsylvania
- The current concession rate in Philadelphia: 1.93%
- Last year’s concession rate in Philadelphia: 1.24%
- Total number of apartments in Philadelphia with concessions: 75,311
Philadelphia, known as the City of Brotherly Love, is a riverfront gem rich in history and culture. Home to iconic landmarks like the Liberty Bell and Independence Hall, it’s also home to the nation’s oldest stock exchange and the famous University of Pennsylvania. Beyond its historical significance, Philadelphia offers a fantastic arts scene, great restaurants, and passionate sports fans (you’ll want to cheer on the Philadelphia Eagles!).
Philadelphia’s vacancy rate is 7.3%, slightly above the national average. Despite this, rent prices in the city have risen by 1.3% over the past year, with the average monthly rent now at $1,697. Even with this increase, Philadelphia remains relatively affordable when compared to other major US cities. And since Philadelphia has the third-highest number of rent specials, now is a good time to find your place in this historic city.
2. Jacksonville, Florida
- The current concession rate in Jacksonville: 1.81%
- Last year’s concession rate in Jacksonville: 1.64%
- Total number of apartments in Jacksonville with concessions: 82,260
Jacksonville gives new meaning to “big city,” considering it’s nearly 900 square miles. All that space means you’ll have plenty to explore in this beachside city, from the busy downtown to the peaceful Timucuan Ecological and Historic Preserve. And don’t forget the amazing stretch of beaches along the Atlantic Ocean, ideal for everything from surfing to sunbathing.
Jacksonville currently has a vacancy rate of 13.8%, twice the national average. Because of this, rent prices have fallen -2% since last year for an average of $1,274 per month. Rent prices in Jacksonville are 17% lower than the national average, so now might be the right time to find your Jacksonville home and start enjoying white-sand beaches, sunshine, and palm trees.
1. Atlanta, Georgia
- The current concession rate in Atlanta: 1.76%
- Last year’s concession rate in Atlanta: 1.69%
- Total number of apartments in Atlanta with concessions: 152,150
The city with the most concessions overall is Atlanta, a city rich in history and tradition while still being modern and progressive. Atlanta is home to several Fortune 500 companies, several universities, including Georgia Tech and Georgia State University, as well as world-famous destinations like the Georgia Aquarium and Centennial Olympic Park.
Atlanta residents pay an average of $1,570 per month for rent, which is -1.2% less than last year. Despite being a very busy city, Atlanta’s vacancy rate is currently 12.3%, quite a bit higher than the US average. However, construction in Atlanta has slowed, which should bring the vacancy rate down. With its trendy neighborhoods, amazing food scene, and endless shopping, Atlanta provides a fun-filled, active lifestyle.
While move-in specials can reduce moving costs, it’s important to ensure you can afford the apartment even without the concession. Make sure you understand the terms of the lease and the conditions for the concession. This way, you can make an informed decision about your next move. Whether it’s in a city where move-in specials are plentiful or a place where they’re more difficult to come by, knowing what concessions are and how to find them can make your next move a budget-friendly one.
This article is for informational purposes only and move-in specials are not guaranteed. Please be aware that rent concessions can change at any time without prior notice. Rent concession information is based on Q2, 2024 data provided by Apartments.com, and vacancy information is based on CoStar data. Other sources of information include the Bureau of Labor Statistics and the United States Census Bureau. For the most up-to-date information on current move-in specials, please contact the apartment community.
