Data show shift in which markets offer concessions.

From a national perspective, the number of apartment communities offering concessions has stabilized over the past year to approximately one-third. What is dramatically different, however, is where those concessions are being offered.

Across the 15,000 U.S. apartment communities that M/PF YieldStar surveyed in Q2 2007, rent concessions were reported for 36 percent of the stock. That differs little from the 33 percent of inventory featuring rent giveaways a year earlier.

Some of the country's previously high-flying apartment market performers now are experiencing more competitive leasing environments, bringing rent specials back into the picture. Conversely, other markets that had been struggling are gaining momentum, allowing rent discounts to drop by the wayside.

Sacramento Leads the Way. The country's biggest increase in the use of concessions during the past year occurred in Sacramento, Calif. The share of product there featuring rent discounts jumped to 57 percent as of June 2007, up 37 points since mid-2006. Likewise, use of concessions shot up 30 points or more across Tucson, Ariz., and the Florida markets of West Palm Beach, Orlando and Tampa.

On the flip side, Salt Lake City's share of apartments offered at a discount eased to 12 percent as of mid-2007, down 45 points from the mid-2006 rate of 57 percent. The share of communities giving away free rent plunged by 20 to 30 points in St. Louis; Cincinnati; Charlotte, N.C.; and Raleigh, N.C.