Many budget-minded renters save apartment hunting for December, figuring that crummy weather and holiday spending will soften the market to their advantage. But a new analysis from RentHop challenges that rule of thumb, suggesting that the best months to score a deal depend on where you’re moving.
The listings site took a deeper dive into the numbers, examining data on asking rents for 1-bedroom apartments in New York City, Los Angeles, Chicago, Miami, Atlanta, Houston, Philadelphia, Phoenix, San Diego, and Charlotte, N.C. As the site's handy bar graphs demonstrate, seasonal differences abound among cities. In Atlanta, for instance, median rent was lowest in March and highest in September. In Charlotte, rents bottomed out in November and peaked in August. Signing a New York City lease in January instead of July could save you $1,680 a year. Good to know if you have the luxury of choosing when to move.