Move-in specials have become common across the Phoenix rental market. In July 2026, 61.3% of Phoenix metro rental listings on Zillow advertised a concession—nearly two out of every three. That figure includes different types of rental housing, not just single-family homes, but it shows how widely incentives are being used to compete for renters. Zillow Rental Market Report
With so many listings offering specials, rental owners may reasonably wonder whether they should do the same. If your home isn’t leasing, should you offer a free month or move-in credit—or simply lower the rent?
The Short Answer
If a home is getting too few inquiries, lowering the advertised rent is usually the better first move. A special can be useful when the rent is already competitive and the home needs an extra reason to stand out.
At Rentals America, we regularly help owners make that decision. We look at the competing homes, the response to the listing and feedback from showings. Our general approach is straightforward: If price is the problem, fix the price.
Why Lowering the Rent Often Works Better
Renters search by price. Someone whose search is capped at $1,900 may never see a home advertised at $2,000, even if that home offers a move-in credit.
Lowering the advertised rent can put a property into additional search results and make it more competitive when renters compare similar homes. It can also renew interest from people who previously viewed the listing. Some rental websites notify users when a price changes, and at Rentals America, our leasing system proactively reaches out to interested prospects when we update a rental price.
A concession can improve the offer for someone who finds the home. A price reduction may help more renters find it in the first place.
One Example of the Tradeoff
Suppose a three-bedroom home is listed at $2,000 per month and receives few inquiries during its first 10 days on the market. Similar homes are available for around $1,900. The owner is considering two options: lower the advertised rent to $1,900 or keep it at $2,000 and offer a $1,000 move-in credit.
On a 12-month lease, $1,900 per month would produce $22,800 in rent. A $2,000 monthly rent with a $1,000 credit would produce $23,000. The concession option appears to bring in $200 more over that period, assuming both homes lease at the same time.
But they may not attract the same renters. The home advertised at $2,000 could remain outside the search results of people whose maximum is $1,900. If it takes just three additional weeks to lease, that vacancy represents approximately $1,380 in potential rent at the $2,000 rate—far more than the $200 difference between the two offers.
The same owner might consider holding out for $2,000 without a credit. If accepting $1,900 would lease the home three weeks sooner, the $100 monthly difference would total $1,200 over a 12-month lease, while the additional vacancy would represent approximately $1,380 in lost potential rent.
We cannot predict that a particular reduction will lease a home three weeks faster. The example shows why we evaluate total rental income and likely leasing time, not just the monthly number. Utilities, landscaping, pool service and other expenses can also continue while a home is vacant.
The highest monthly rent does not always produce the highest overall return.
What Counts as a Comparable Home in the Phoenix Metro?
A Phoenix metro statistic can describe the broad market, but it cannot price an individual house. The more useful comparison is with homes a prospective renter would realistically consider instead.
A three-bedroom home in Mesa may compete with a different group of listings than a similarly sized home in Scottsdale, Chandler or Glendale. Even within the same area, renters may weigh condition, layout, commute, outdoor space and other features differently. A citywide average cannot capture all of that.
When we recommend a price, we look at relevant homes currently available to the same renters, then compare that picture with the listing’s inquiry and showing activity. If renters consistently choose other homes, we ask whether the problem is price, presentation or something they notice when they tour. That comparison also helps determine whether a special would offer a genuine advantage or simply leave an uncompetitive asking rent in place.
When Does a Move-In Special Make Sense?
A special may be effective when the home is already priced competitively but still needs something extra to distinguish it from similar rentals.
Perhaps several comparable homes are available nearby at roughly the same price. Your listing is receiving inquiries and showings, but renters have plenty of choices. A move-in credit could provide an additional reason to choose your property.
The distinction is important: A special can help a correctly priced home stand out. It usually won’t solve an asking price that renters aren’t responding to.
A concession may also feel more comfortable to an owner who has a minimum monthly rent in mind. We understand that preference, but it should be weighed against what the strategy is likely to accomplish. Preserving the advertised rent is of little benefit if the home sits vacant longer than necessary.
Don’t Let Your “Bottom Line” Determine the Asking Rent
One of the most common pricing challenges we encounter is an owner’s preferred number. An owner may feel they need a certain rent to cover the mortgage payment or may not want to accept less than the previous tenant paid.
Those are understandable concerns. Neither, however, determines what renters are willing to pay today. A lease signed a year or two ago may not reflect current competition, and renters do not know what an owner pays on the mortgage.
The more useful question is: What price and marketing strategy are most likely to attract a qualified renter and produce the best overall result?
That means considering current comparable homes, the property’s condition and features, renter response and the cost of vacancy.
How Do You Know When the Rent Is Too High?
One of the clearest early signals we watch is inquiry volume.
When a home first goes on the market, renter activity begins to tell us whether the listing is connecting with people. Few inquiries do not automatically mean the asking rent is wrong. We also review the photos and listing presentation, competing properties, seasonality and the home’s condition. But when similar homes are attracting renters and yours is not, price deserves a close look.
Showings provide another kind of evidence. At Rentals America, we review feedback from prospective tenants after they tour a home. Sometimes it reveals an issue that comparable rental data alone cannot capture.
A kitchen may feel dated next to competing properties. There may be a busy road behind the home, a neighboring dog that barks during showings or a layout that renters find less appealing. These details may not appear neatly in a pricing comparison, but renters notice them.
If people are touring without applying—and their feedback consistently points to the home’s condition, location or value—we consider that information when discussing the price with the owner. A special may help in some cases, but it cannot change what renters experience at a showing.
How Quickly Should You Adjust the Rent?
There is nothing inherently wrong with testing the upper end of a reasonable rental range. The mistake is starting at a hopeful price and waiting too long when renter activity does not support it.
At Rentals America, we generally review pricing on vacant homes every 7–10 days. We consider inquiries, showings, applications, prospect feedback and the homes currently competing for the same renters.
If a property is already priced in line with comparable homes but needs more activity, a relatively small reduction may help it stay competitive. The change can also give us an opportunity to reconnect with interested prospects.
If a property is clearly overpriced—or there is an oversupply of similar homes—a small reduction may not be enough. A larger adjustment may be necessary to bring the asking rent into the range renters are actually considering.
We recommend having a plan before listing at an optimistic price: if the home does not generate sufficient traffic during the first 7–10 days, be prepared to respond. Several weeks of avoidable vacancy can cost more than the higher rent you hoped to achieve.
Which Strategy Should You Choose?
Start with what renter behavior is telling you:
Few inquiries: Examine the asking rent and competing listings. A special may not help renters discover a home that falls outside their search range.
Showings but no applications: Review both the price and showing feedback. A condition or location issue may be affecting how renters value the home.
Good activity at a competitive price: Consider whether a move-in special would help the home stand out among similar choices.
An intentionally optimistic starting price: Adjust promptly if the first review shows that renters are not responding.
The right answer can differ by neighborhood, property type, price range and time of year. The broader Phoenix concession statistic is useful context, but it should not determine the strategy for an individual home.
Frequently Asked Questions
Are move-in specials common in the Phoenix rental market?
Yes. Zillow reported that 61.3% of Phoenix metro rental listings advertised a concession in July 2026. The figure covers different rental housing types, so it should not be read as the concession rate specifically for three-bedroom houses. Zillow Rental Market Report
Is it better to lower the rent or offer a move-in credit?
It depends on why the property is not leasing. If too few renters are finding or inquiring about it, a lower advertised rent may address the underlying problem. If the rent is competitive and renters are touring but have many similar choices, a credit may help distinguish the home.
Does lowering the rent make a listing look bad?
Not necessarily. Price adjustments are a normal part of marketing a vacant home and may bring the listing back to the attention of interested renters. The greater financial concern may be allowing a home to remain vacant at a price the market is not supporting.
Should I base the asking rent on what my previous tenant paid?
Previous rent is useful context, but it should not determine the new asking price by itself. Current competition, seasonality, property condition and renter demand matter more when setting a price for today’s market.
The Bottom Line
With specials appearing on so many rental listings, it is natural to ask whether your home needs one too. Sometimes an incentive is useful—particularly when the property is priced correctly and competing against many similar options.
When a home is getting too little interest because its asking rent is too high, we generally prefer to address the price directly. We review renter activity closely, pay attention to showing feedback and recommend changes before unnecessary vacancy becomes more expensive than the rent an owner is trying to preserve.
The goal is to find the strategy that attracts a qualified renter and produces the best overall result for the owner.
If you are unsure how your rental compares with the homes currently competing for tenants, our Phoenix team can review the asking rent, listing activity and market conditions with you.
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