Las Vegas renters are walking into a winter of unusually generous offers, as a flood of apartment move-in specials washes over the valley. From waived fees and gift cards to weeks or even months of free rent, the balance of power has shifted, giving tenants the kind of leverage locals have not seen since the last big building boom.
“More than 7 in 10 multifamily properties are now offering some sort of concession in Las Vegas,” wrote analyst Danny Khalil in a Feb. 24, 2026 review for CoStar. The surge in giveaways signals that the market has tilted toward renters as new construction and slower household growth make it tougher for owners to keep buildings full.
Other trackers see a more moderate, but still elevated, trend. Zillow’s January market report found that 38.8% of rental listings nationwide advertised a concession, and about 39.4% of Las Vegas listings were touting specials at the start of 2026. Concessions tend to spike during cooler leasing months and in metros with lots of brand-new apartments, which helps explain the valley’s current crop of deals, according to Zillow Research.
Different counts, different pictures
Those competing numbers partly come down to how you count. Some services look at whether an entire property is advertising any deal at all, while others focus on individual stabilized units. In December, about 15.6% of stabilized apartments were offering concessions, with the heaviest discounting in Southern and Western markets, according to RealPage. Those methodological differences help explain why a property-level headline can sound much more dramatic than unit-level statistics.
Why landlords are cutting deals
Owners and managers say the giveaways are mostly a response to supply. Late-cycle deliveries and a hefty lease-up pipeline have many new buildings chasing the same pool of renters. Market briefs from Yardi Matrix list Las Vegas among metros with heavy new supply and negative advertised rent growth, a combination that ramps up pressure during lease-up. Local players are feeling it on the ground too; one Southern Nevada developer told Nevada Business that “you can get six weeks free on a really good deal on an apartment today.”…