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Las Vegas tops renter loyalty; Raleigh draws most outsiders.

6/16/2026

33 5 Full Breakdown

Summary

Las Vegas Leads Loyalty

Las Vegas led U.S. renter loyalty in Q1 2026 with 70% of searches staying local.
Austin, San Antonio, Houston and San Diego also kept a majority of local rental search traffic in Q1 2026.
Raleigh recorded the highest out-of-market rental demand in Q1 2026, with 69.1% of views from outside the metro.
Detroit’s out-of-market demand rose from 28.1% in Q1 2020 to 51.8% in Q1 2026.

Summary

Zillow Incentives

Zillow reports a record 39.8% of April rentals offered move-in incentives like waived fees.
Chicago rents rose 5.4% year over year in April, one of the steepest gains.
2024 saw about 600,000 new apartments built, raising vacancy rates to 7.3%, a 12-year high.
In Nashville and Austin, landlords offer three and a half months rent, prompting broker Michelle Becker to warn that incentives lock renters as rent hikes persist.

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Las Vegas Leads Loyalty

Las Vegas led U.S. renter loyalty in Q1 2026 with 70% of searches staying local.
Austin, San Antonio, Houston and San Diego also kept a majority of local rental search traffic in Q1 2026.
Raleigh recorded the highest out-of-market rental demand in Q1 2026, with 69.1% of views from outside the metro.
Detroit’s out-of-market demand rose from 28.1% in Q1 2020 to 51.8% in Q1 2026.

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