The class of 2026 is entering one of the most renter-friendly markets in years
Top Markets For New Grads Show How Far Landlords Will Go To Fill Units
Zillow’s latest ranking of top markets for new college graduates points to a quiet but meaningful shift in the apartment business: landlords in many Sunbelt and Western metros are leaning on concessions to win over young renters just as they enter the workforce.
For owners and developers, that means the class of 2026 is stepping into some of the most renter-friendly conditions in years, even in markets known for strong job and population growth.
Zillow’s annual winners list this year reveals at least one thing in common — a high share of rentals offering concessions that help new grads stretch their paychecks further.
“The class of 2026 is entering one of the most renter-friendly markets in years,” Zillow stated. In eight of the top 10 markets, more than half of rental listings offer concessions and in nine of the 10 markets, rent will consume less than 30% of income.
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To determine which markets offer grads the best opportunities to start and build their careers, Zillow weighed rental affordability, the share of rentals offering a concession, starting income, job openings and the share of residents in their 20s. The resulting list is dominated by Sunbelt and Western metros, with only two exceptions.
Seattle topped the list of metros offering the highest starting salaries for grads, at $93,900, followed by Washington, D.C. at $83,900, Denver at $81,100 and Portland, Oregon at $80,700. But when Zillow combined income, rent levels, concessions and other lifestyle factors, Austin, Texas claimed the top overall spot for the second straight year.
In Austin, the typical income for new grads is $74,800. With a typical rent of $1,604, nearly 64% of rentals offer a concession and the metro continues to act as a magnet for 20-somethings, supported by a robust tech and professional services job base.
Denver ranked second overall. Typical rents run $1,887 and 68.3% of apartments offer concessions, while the market’s appeal is bolstered by outdoor amenities and a maturing tech sector.
Portland, Oregon, came in third, offering relatively high incomes and a typical rent of $1,789. New grads there can tap into jobs in technology as well as the outdoor and apparel industries.
Source: GlobeSt.
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