Monday, January 29, 2018

The Best and Worst Months to Rent An Apartment examined rental trends across the top 10 cities in the U.S. to find the best and worst times to rent, and found that in general the "best," or cheapest months to rent, tended to be between December and March, while the worst, or most expensive months to rent, are from May through October.

For example, in New York City, the best deal for a 1-bedroom apartment could generally be found in February, for a median of $3,000. The worst month to find a deal is in July, where rent median is $3,171. That's a 5.4-percentage difference amounting to about $170.

But the best time to rent (or buy a house) is when, surprise, the demand is lowest and that can mean different times of the year for different seasons..

If I am looking for a place in Chicago, say, I would look when the temperature is near zero. You will have little competition and a landlord who needs to rent at that time is going to be very flexible.

On the other side of the spectrum, I would look for a place in Palm Springs in August when half the town is closed down and temperatures are over 100 degrees.


1 comment:

  1. Chicago landlords try to avoid having leases that end in the winter. As a result it can be difficult to get leases less than a year. Selection is also rather limited in the winter.