{"success":true,"data":{"pressRelease":{"id":"46353","rtpr_id":"nPn9qkkf2a","ticker":"ZG","exchange":"NASDAQ","all_tickers":["ZG"],"title":"It's a renter's market: 2 in 5 listings come with a deal this spring","author":"PR Newswire","published_at":"2026-05-27T12:00:15.376Z","article_body":"It's a renter's market: 2 in 5 listings come with a deal this spring\n\nPR Newswire\n\nSEATTLE, May 27, 2026\n\nRental concessions — move-in incentives and other freebies — hit a record\nhigh for this time of year\n\n * 39.8% of rentals on Zillow offered concessions this spring — up 5 percentage\npoints from a year ago, according to a new Zillow analysis.\n * Incentives are most common in Denver (68.3%), Charlotte (66.6%) and Dallas\n(64.2%).\n * The share of listings offering concessions has more than doubled since before\nthe pandemic.\nSEATTLE, May 27, 2026 /PRNewswire/ -- This spring has something extra for\nrenters: the most deals ever for this time of year. According to Zillow's\nlatest rental report\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4697086-1&h=457790304&u=https%3A%2F%2Fwww.zillow.com%2Fresearch%2Fapril-2026-rent-report-36354%2F&a=Zillow%27s+latest+rental+report)\n, concessions — incentives such as free rent, waived fees and discounted\nmove-in costs — are showing up on nearly 40% of listings. For renters, that\ncan translate into meaningful savings both upfront and over the course of a\nlease.\n\nA year ago, roughly 1 in 3 rental listings offered a concession. Before the\npandemic, it was closer to 1 in 6. The shift reflects a market where supply\nhas outpaced demand. Renters now have more options and leverage than they've\nhad in years. In response, property managers are increasingly offering\nsweeteners to get tenants through the door.\n\n\"Renters don't have to settle this spring. With more supply on the market than\nin decades, there are real choices out there — and real room to negotiate on\nprice, perks and terms,\" said Zillow® Senior Economist Kara Ng. \"Renters are\nin a position to push for a better deal, and property managers are ready to\ngive them one.\"\n\nA wave of new apartment construction, particularly across the Sun Belt, has\nadded inventory nationwide, pushing the national rental vacancy rate to 7.3%\n— up from just 5.6% in 2021, when competition for apartments was at its most\nintense in years. With more units sitting empty, property managers are trying\nto keep units filled by offering incentives.\n\nNot coincidentally, the markets with the highest share of concessions are\nplaces where apartment construction has boomed in recent years: Denver\n(68.3%), Charlotte (66.6%), Dallas (64.2%), Austin (63.8%) and Nashville\n(62.6%). In these cities, property managers are going to great lengths to\nattract renters.\n\nIn Zillow's hottest rental markets\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4697086-1&h=1864176720&u=https%3A%2F%2Fwww.zillow.com%2Fresearch%2Fhottest-markets-rent-2026-36331%2F&a=hottest+rental+markets)\n, places where competition among renters remains fierce, property managers\ndon't need to offer as many sweeteners to fill units. Concessions are lowest\nin Buffalo (11.1%), Providence (12.6%), New York (18.4%), New Orleans (19.2%)\nand Chicago (21.7%).\n\nFor renters who land a concession, the savings can add up fast. At a time when\nyou need to earn nearly $77,200 a year to afford the typical U.S. rental, a\nfree month means roughly $1,930 back in your pocket — and some renters are\nwalking away with even more than that. According to Zillow's Consumer Housing\nTrends Report\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4697086-1&h=3933381641&u=https%3A%2F%2Fwww.zillow.com%2Fresearch%2Frenters-housing-trends-report-2025-35647%2F&a=Zillow%27s+Consumer+Housing+Trends+Report)\n, about a third of recent renters said the best concession is at least their\nfirst month's rent free, meaning thousands in savings. Over the course of a\nlease, that kind of cushion can meaningfully shift a monthly budget, help\nbuild an emergency fund or go toward saving for a down payment.\n\nFor property managers, this market rewards transparency and ease. Renters are\ndoing their homework\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4697086-1&h=890105142&u=https%3A%2F%2Fwww.zillow.com%2Fresearch%2Frenters-housing-trends-report-2025-35647%2F&a=Renters+are+doing+their+homework)\n: Nearly 6 in 10 say seeing fees and lease terms upfront is essential, and\nmore than half say a private tour is a must before signing. Listing\nconcessions prominently and enabling Instant Tours\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4697086-1&h=2445186104&u=https%3A%2F%2Fwww.zillow.help%2Farticle%2FHow-do-I-enable-Instant-Tours-for-syndicated-listings&a=Instant+Tours)\nare simple steps that can make the difference between a lease signed and a\nunit left empty.\n Metro Share of Rental Share of Rental Listings Typical Rent, Income\n Listings on Zillow on Zillow Offering a Zillow Observed Needed to\n Offering a Concession, Year-over- Rent Index (ZORI) Afford Rent\n Concession Year Change\n United States 39.8 % 5.0 % $1,930 $77,186\n New York, NY 18.4 % 1.7 % $3,406 $136,242\n Los Angeles, CA 30.9 % 3.9 % $2,892 $115,663\n Chicago, IL 21.7 % -0.1 % $2,219 $88,775\n Dallas, TX 64.2 % 10.4 % $1,660 $66,406\n Houston, TX 51.8 % 5.5 % $1,619 $64,769\n Washington, DC 57.9 % 6.9 % $2,375 $94,982\n Philadelphia, PA 34.3 % 3.0 % $1,901 $76,023\n Miami, FL 28.9 % 5.4 % $2,683 $107,317\n Atlanta, GA 59.1 % 4.9 % $1,825 $72,995\n Boston, MA 31.1 % 8.2 % $3,184 $127,355\n Phoenix, AZ 59.9 % 8.4 % $1,741 $69,622\n San Francisco, CA 27.1 % -8.0 % $3,206 $128,240\n Riverside, CA 28.7 % 2.7 % $2,510 $100,415\n Detroit, MI 26.1 % 2.1 % $1,481 $59,228\n Seattle, WA 54.2 % 5.4 % $2,208 $88,309\n Minneapolis, MN 39.1 % -0.9 % $1,698 $67,936\n San Diego, CA 38.0 % 7.0 % $2,914 $116,556\n Tampa, FL 50.4 % 10.3 % $1,997 $79,888\n Denver, CO 68.3 % 5.8 % $1,887 $75,482\n Baltimore, MD 37.7 % -3.6 % $1,894 $75,759\n St. Louis, MO 26.8 % 3.9 % $1,436 $57,444\n Orlando, FL 53.4 % 4.7 % $1,963 $78,509\n Charlotte, NC 66.6 % 2.0 % $1,733 $69,337\n San Antonio, TX 55.6 % 4.9 % $1,398 $55,904\n Portland, OR 49.0 % 5.1 % $1,789 $71,556\n Sacramento, CA 31.6 % 4.3 % $2,258 $90,301\n Pittsburgh, PA 27.1 % 5.9 % $1,507 $60,298\n Cincinnati, OH 28.6 % 8.2 % $1,557 $62,295\n Austin, TX 63.8 % 1.0 % $1,604 $64,144\n Las Vegas, NV 53.0 % 10.1 % $1,734 $69,345\n Kansas City, MO 35.3 % 7.3 % $1,526 $61,035\n Columbus, OH 47.1 % 12.6 % $1,516 $60,623\n Indianapolis, IN 48.9 % 12.2 % $1,517 $60,667\n Cleveland, OH 26.3 % 4.2 % $1,441 $57,628\n San Jose, CA 32.5 % -6.5 % $3,534 $141,366\n Nashville, TN 62.6 % 5.2 % $1,784 $71,377\n Virginia Beach, VA 30.7 % 4.4 % $1,843 $73,717\n Providence, RI 12.6 % 2.3 % $2,154 $86,177\n Jacksonville, FL 48.9 % 1.0 % $1,692 $67,695\n Milwaukee, WI 22.9 % -0.4 % $1,540 $61,594\n Oklahoma City, OK 30.9 % 6.2 % $1,392 $55,688\n Raleigh, NC 62.9 % 2.9 % $1,674 $66,973\n Memphis, TN 43.0 % 13.1 % $1,432 $57,281\n Richmond, VA 48.0 % 7.9 % $1,736 $69,448\n Louisville, KY 42.5 % 10.0 % $1,377 $55,098\n New Orleans, LA 19.2 % 8.1 % $1,615 $64,606\n Salt Lake City, UT 62.5 % 3.1 % $1,631 $65,224\n Hartford, CT 24.9 % 6.4 % $1,940 $77,605\n Buffalo, NY 11.1 % 2.2 % $1,417 $56,694\n Birmingham, AL 43.7 % 17.7 % $1,422 $56,867\n\n *Table ordered by market size\n\nAbout Zillow Group\n\nZillow Group, Inc. (Nasdaq: Z and ZG) is reimagining real estate to make home\na reality for more and more people.\n\nAs the most visited real estate app and website in the United States, Zillow\nconnects hundreds of millions of consumers with innovative technology, trusted\nagents and loan officers, and seamless digital solutions. With\nindustry-leading tools and resources, Zillow supercharges real estate\nprofessionals so they can grow their businesses and deliver exceptional client\nexperiences. For renters and housing providers, Zillow offers not only a\nrobust marketplace but a set of end-to-end products and services to streamline\napplications, leases, payments and more.\n\nZillow's ecosystem spans the entire home journey — from dreaming and\nshopping to renting, buying, selling and financing.\n\nZillow Group's affiliates, subsidiaries and brands include Zillow(®), Zillow\nPremier Agent(®), Zillow Home Loans(®), Zillow Rentals(®), Zillow(®) New\nConstruction, Trulia(®), StreetEasy(®), Out East(®), HotPads(®), Follow Up\nBoss(®), ShowingTime(®), dotloop(®) and Zillow(®) Closing.\n\nAll marks herein are owned by MFTB Holdco, Inc., a Zillow affiliate. Zillow\nHome Loans, LLC is an Equal Housing Lender, NMLS #10287\n(www.nmlsconsumeraccess.org\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4697086-1&h=1060882243&u=http%3A%2F%2Fwww.nmlsconsumeraccess.org%2F&a=www.nmlsconsumeraccess.org)\n). © 2026 MFTB Holdco, Inc., a Zillow affiliate.\n\n(ZFIN)\n\n \n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/its-a-renters-market-2-in-5-listings-come-with-a-deal-this-spring-302782682.html\n(https://www.prnewswire.com/news-releases/its-a-renters-market-2-in-5-listings-come-with-a-deal-this-spring-302782682.html)\n\nSOURCE Zillow\n\n\n\nBriahna Healy, Zillow, press@zillow.com\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS508178/Zillow_v2_Logo.jpg?id=OA2642702\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPn9qkkf2a","title":"It's a renter's market: 2 in 5 listings come with a deal this spring","author":"PR Newswire","ticker":"ZG","created":"2026-05-27T12:00:15.376Z","tickers":["ZG"],"exchange":"NASDAQ","article_body":"It's a renter's market: 2 in 5 listings come with a deal this spring\n\nPR Newswire\n\nSEATTLE, May 27, 2026\n\nRental concessions — move-in incentives and other freebies — hit a record\nhigh for this time of year\n\n * 39.8% of rentals on Zillow offered concessions this spring — up 5 percentage\npoints from a year ago, according to a new Zillow analysis.\n * Incentives are most common in Denver (68.3%), Charlotte (66.6%) and Dallas\n(64.2%).\n * The share of listings offering concessions has more than doubled since before\nthe pandemic.\nSEATTLE, May 27, 2026 /PRNewswire/ -- This spring has something extra for\nrenters: the most deals ever for this time of year. According to Zillow's\nlatest rental report\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4697086-1&h=457790304&u=https%3A%2F%2Fwww.zillow.com%2Fresearch%2Fapril-2026-rent-report-36354%2F&a=Zillow%27s+latest+rental+report)\n, concessions — incentives such as free rent, waived fees and discounted\nmove-in costs — are showing up on nearly 40% of listings. For renters, that\ncan translate into meaningful savings both upfront and over the course of a\nlease.\n\nA year ago, roughly 1 in 3 rental listings offered a concession. Before the\npandemic, it was closer to 1 in 6. The shift reflects a market where supply\nhas outpaced demand. Renters now have more options and leverage than they've\nhad in years. In response, property managers are increasingly offering\nsweeteners to get tenants through the door.\n\n\"Renters don't have to settle this spring. With more supply on the market than\nin decades, there are real choices out there — and real room to negotiate on\nprice, perks and terms,\" said Zillow® Senior Economist Kara Ng. \"Renters are\nin a position to push for a better deal, and property managers are ready to\ngive them one.\"\n\nA wave of new apartment construction, particularly across the Sun Belt, has\nadded inventory nationwide, pushing the national rental vacancy rate to 7.3%\n— up from just 5.6% in 2021, when competition for apartments was at its most\nintense in years. With more units sitting empty, property managers are trying\nto keep units filled by offering incentives.\n\nNot coincidentally, the markets with the highest share of concessions are\nplaces where apartment construction has boomed in recent years: Denver\n(68.3%), Charlotte (66.6%), Dallas (64.2%), Austin (63.8%) and Nashville\n(62.6%). In these cities, property managers are going to great lengths to\nattract renters.\n\nIn Zillow's hottest rental markets\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4697086-1&h=1864176720&u=https%3A%2F%2Fwww.zillow.com%2Fresearch%2Fhottest-markets-rent-2026-36331%2F&a=hottest+rental+markets)\n, places where competition among renters remains fierce, property managers\ndon't need to offer as many sweeteners to fill units. Concessions are lowest\nin Buffalo (11.1%), Providence (12.6%), New York (18.4%), New Orleans (19.2%)\nand Chicago (21.7%).\n\nFor renters who land a concession, the savings can add up fast. At a time when\nyou need to earn nearly $77,200 a year to afford the typical U.S. rental, a\nfree month means roughly $1,930 back in your pocket — and some renters are\nwalking away with even more than that. According to Zillow's Consumer Housing\nTrends Report\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4697086-1&h=3933381641&u=https%3A%2F%2Fwww.zillow.com%2Fresearch%2Frenters-housing-trends-report-2025-35647%2F&a=Zillow%27s+Consumer+Housing+Trends+Report)\n, about a third of recent renters said the best concession is at least their\nfirst month's rent free, meaning thousands in savings. Over the course of a\nlease, that kind of cushion can meaningfully shift a monthly budget, help\nbuild an emergency fund or go toward saving for a down payment.\n\nFor property managers, this market rewards transparency and ease. Renters are\ndoing their homework\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4697086-1&h=890105142&u=https%3A%2F%2Fwww.zillow.com%2Fresearch%2Frenters-housing-trends-report-2025-35647%2F&a=Renters+are+doing+their+homework)\n: Nearly 6 in 10 say seeing fees and lease terms upfront is essential, and\nmore than half say a private tour is a must before signing. Listing\nconcessions prominently and enabling Instant Tours\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4697086-1&h=2445186104&u=https%3A%2F%2Fwww.zillow.help%2Farticle%2FHow-do-I-enable-Instant-Tours-for-syndicated-listings&a=Instant+Tours)\nare simple steps that can make the difference between a lease signed and a\nunit left empty.\n Metro Share of Rental Share of Rental Listings Typical Rent, Income\n Listings on Zillow on Zillow Offering a Zillow Observed Needed to\n Offering a Concession, Year-over- Rent Index (ZORI) Afford Rent\n Concession Year Change\n United States 39.8 % 5.0 % $1,930 $77,186\n New York, NY 18.4 % 1.7 % $3,406 $136,242\n Los Angeles, CA 30.9 % 3.9 % $2,892 $115,663\n Chicago, IL 21.7 % -0.1 % $2,219 $88,775\n Dallas, TX 64.2 % 10.4 % $1,660 $66,406\n Houston, TX 51.8 % 5.5 % $1,619 $64,769\n Washington, DC 57.9 % 6.9 % $2,375 $94,982\n Philadelphia, PA 34.3 % 3.0 % $1,901 $76,023\n Miami, FL 28.9 % 5.4 % $2,683 $107,317\n Atlanta, GA 59.1 % 4.9 % $1,825 $72,995\n Boston, MA 31.1 % 8.2 % $3,184 $127,355\n Phoenix, AZ 59.9 % 8.4 % $1,741 $69,622\n San Francisco, CA 27.1 % -8.0 % $3,206 $128,240\n Riverside, CA 28.7 % 2.7 % $2,510 $100,415\n Detroit, MI 26.1 % 2.1 % $1,481 $59,228\n Seattle, WA 54.2 % 5.4 % $2,208 $88,309\n Minneapolis, MN 39.1 % -0.9 % $1,698 $67,936\n San Diego, CA 38.0 % 7.0 % $2,914 $116,556\n Tampa, FL 50.4 % 10.3 % $1,997 $79,888\n Denver, CO 68.3 % 5.8 % $1,887 $75,482\n Baltimore, MD 37.7 % -3.6 % $1,894 $75,759\n St. Louis, MO 26.8 % 3.9 % $1,436 $57,444\n Orlando, FL 53.4 % 4.7 % $1,963 $78,509\n Charlotte, NC 66.6 % 2.0 % $1,733 $69,337\n San Antonio, TX 55.6 % 4.9 % $1,398 $55,904\n Portland, OR 49.0 % 5.1 % $1,789 $71,556\n Sacramento, CA 31.6 % 4.3 % $2,258 $90,301\n Pittsburgh, PA 27.1 % 5.9 % $1,507 $60,298\n Cincinnati, OH 28.6 % 8.2 % $1,557 $62,295\n Austin, TX 63.8 % 1.0 % $1,604 $64,144\n Las Vegas, NV 53.0 % 10.1 % $1,734 $69,345\n Kansas City, MO 35.3 % 7.3 % $1,526 $61,035\n Columbus, OH 47.1 % 12.6 % $1,516 $60,623\n Indianapolis, IN 48.9 % 12.2 % $1,517 $60,667\n Cleveland, OH 26.3 % 4.2 % $1,441 $57,628\n San Jose, CA 32.5 % -6.5 % $3,534 $141,366\n Nashville, TN 62.6 % 5.2 % $1,784 $71,377\n Virginia Beach, VA 30.7 % 4.4 % $1,843 $73,717\n Providence, RI 12.6 % 2.3 % $2,154 $86,177\n Jacksonville, FL 48.9 % 1.0 % $1,692 $67,695\n Milwaukee, WI 22.9 % -0.4 % $1,540 $61,594\n Oklahoma City, OK 30.9 % 6.2 % $1,392 $55,688\n Raleigh, NC 62.9 % 2.9 % $1,674 $66,973\n Memphis, TN 43.0 % 13.1 % $1,432 $57,281\n Richmond, VA 48.0 % 7.9 % $1,736 $69,448\n Louisville, KY 42.5 % 10.0 % $1,377 $55,098\n New Orleans, LA 19.2 % 8.1 % $1,615 $64,606\n Salt Lake City, UT 62.5 % 3.1 % $1,631 $65,224\n Hartford, CT 24.9 % 6.4 % $1,940 $77,605\n Buffalo, NY 11.1 % 2.2 % $1,417 $56,694\n Birmingham, AL 43.7 % 17.7 % $1,422 $56,867\n\n *Table ordered by market size\n\nAbout Zillow Group\n\nZillow Group, Inc. (Nasdaq: Z and ZG) is reimagining real estate to make home\na reality for more and more people.\n\nAs the most visited real estate app and website in the United States, Zillow\nconnects hundreds of millions of consumers with innovative technology, trusted\nagents and loan officers, and seamless digital solutions. With\nindustry-leading tools and resources, Zillow supercharges real estate\nprofessionals so they can grow their businesses and deliver exceptional client\nexperiences. For renters and housing providers, Zillow offers not only a\nrobust marketplace but a set of end-to-end products and services to streamline\napplications, leases, payments and more.\n\nZillow's ecosystem spans the entire home journey — from dreaming and\nshopping to renting, buying, selling and financing.\n\nZillow Group's affiliates, subsidiaries and brands include Zillow(®), Zillow\nPremier Agent(®), Zillow Home Loans(®), Zillow Rentals(®), Zillow(®) New\nConstruction, Trulia(®), StreetEasy(®), Out East(®), HotPads(®), Follow Up\nBoss(®), ShowingTime(®), dotloop(®) and Zillow(®) Closing.\n\nAll marks herein are owned by MFTB Holdco, Inc., a Zillow affiliate. Zillow\nHome Loans, LLC is an Equal Housing Lender, NMLS #10287\n(www.nmlsconsumeraccess.org\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4697086-1&h=1060882243&u=http%3A%2F%2Fwww.nmlsconsumeraccess.org%2F&a=www.nmlsconsumeraccess.org)\n). © 2026 MFTB Holdco, Inc., a Zillow affiliate.\n\n(ZFIN)\n\n \n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/its-a-renters-market-2-in-5-listings-come-with-a-deal-this-spring-302782682.html\n(https://www.prnewswire.com/news-releases/its-a-renters-market-2-in-5-listings-come-with-a-deal-this-spring-302782682.html)\n\nSOURCE Zillow\n\n\n\nBriahna Healy, Zillow, press@zillow.com\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS508178/Zillow_v2_Logo.jpg?id=OA2642702\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-05-27T12:00:15.418147593Z","server_sent_at_ms":1779883215418},"received_at":"2026-05-27T12:00:15.539Z","source_url":"https://www.prnewswire.com/news-releases/its-a-renters-market-2-in-5-listings-come-with-a-deal-this-spring-302782682.html"},"analysis":{"id":"35787","press_release_id":"46353","analysis_json":{"industry":{"label":"Real Estate Services","sector":"Real Estate"},"redFlags":[],"eventType":"operations_update","narrative":"Zillow reported that 39.8% of rental listings offered concessions this spring, a record high for the season and a 5 percentage point increase year-over-year.\n\nThe national rental vacancy rate has risen to 7.3% from 5.6% in 2021, driven by a wave of new apartment construction, particularly in the Sun Belt.\n\nMarkets with the highest concession rates include Denver (68.3%), Charlotte (66.6%), and Dallas (64.2%), reflecting oversupply and increased leverage for renters.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Macro rental data update: Concessions hit record highs as vacancy rates climb."},"keyFigures":{"customDimensions":{"typical_us_rent":"$1,930","national_concession_rate":"39.8%","concession_rate_yoy_change":"5.0%","income_needed_to_afford_rent":"$77,186","national_rental_vacancy_rate":"7.3%"}},"quotedText":"Renters don't have to settle this spring. With more supply on the market than in decades, there are real choices out there — and real room to negotiate on price, perks and terms","namedEntities":{"people":[{"name":"Kara Ng","role":"Senior Economist"},{"name":"Briahna Healy","role":"Press Contact"}],"products":["Zillow Rentals","Instant Tours"],"companies":[{"name":"Zillow Group, Inc.","ticker":"ZG","relationship":"filer"},{"name":"Zillow","relationship":"brand"},{"name":"MFTB Holdco, Inc.","relationship":"affiliate"}],"dollarAmounts":[{"amount":"$1,930","context":"Typical U.S. rent (ZORI)"},{"amount":"$77,186","context":"Income needed to afford typical U.S. rent"},{"amount":"$77,200","context":"Income needed to afford typical U.S. rent (rounded in text)"}]},"materialImpact":{"score":1,"reasoning":"This is a market commentary release highlighting macro rental trends (increasing concessions) rather than specific company financial results or strategic moves. While it reinforces Zillow's role as a data authority, it does not directly impact revenue or earnings."},"tickerRelevance":{"others":[],"primary":"ZG"},"globalImportance":25,"audienceRelevance":30,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"large-cap","eventGravity":"low","sectorWeight":"moderate","householdBrandBoost":"high","retailFavoriteBoost":"low"}},"event_type":"operations_update","event_type_secondary":null,"sentiment":"neutral","material_impact_score":1,"narrative":"Zillow reported that 39.8% of rental listings offered concessions this spring, a record high for the season and a 5 percentage point increase year-over-year.\n\nThe national rental vacancy rate has risen to 7.3% from 5.6% in 2021, driven by a wave of new apartment construction, particularly in the Sun Belt.\n\nMarkets with the highest concession rates include Denver (68.3%), Charlotte (66.6%), and Dallas (64.2%), reflecting oversupply and increased leverage for renters.","key_figures":{"customDimensions":{"typical_us_rent":"$1,930","national_concession_rate":"39.8%","concession_rate_yoy_change":"5.0%","income_needed_to_afford_rent":"$77,186","national_rental_vacancy_rate":"7.3%"}},"named_entities":{"people":[{"name":"Kara Ng","role":"Senior Economist"},{"name":"Briahna Healy","role":"Press Contact"}],"products":["Zillow Rentals","Instant Tours"],"companies":[{"name":"Zillow Group, Inc.","ticker":"ZG","relationship":"filer"},{"name":"Zillow","relationship":"brand"},{"name":"MFTB Holdco, Inc.","relationship":"affiliate"}],"dollarAmounts":[{"amount":"$1,930","context":"Typical U.S. rent (ZORI)"},{"amount":"$77,186","context":"Income needed to afford typical U.S. rent"},{"amount":"$77,200","context":"Income needed to afford typical U.S. rent (rounded in text)"}]},"model_name":"qwen3_6_27b_awq","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-05-27T12:07:44.940Z","global_importance":25,"audience_relevance":30,"importance_components":{"tickerTier":"large-cap","eventGravity":"low","sectorWeight":"moderate","householdBrandBoost":"high","retailFavoriteBoost":"low"}},"durationMs":21052,"modelName":"george-droid-qwen-72b"}}