When Is the Best Time of Year to Rent an Apartment?

• The best time to rent an apartment for lower rates is during winter (October to April) when rates and demand are lowest, especially from January to March.
• The best time to look for an apartment before moving is in the middle of the month before your official move month.
• The real estate market is seasonal, so being aware of these patterns can impact the ease of your search and the rental price you'll pay.

Whether you're moving to an apartment in LA during the summer or looking for a rental in NYC in the winter, timing can significantly impact your apartment rental experience. The real estate market is both cyclical and seasonal, with variations that affect rental prices and availability. 

While winter is best for lower rental rates and less competition, summer is best for a larger selection of available apartments. Whether you're looking to save money or have a wider selection to choose from, it all comes down to your priorities, and understanding these market trends can help you make an informed decision.

Winter is best for lower rental rates

Winter is the ideal time to find lower rental rates and secure budget-friendly deals on apartments. From October through April,  the demand for apartments significantly drops. This decrease in demand leads to reduced rental prices as landlords and property managers strive to fill vacant units. During these slower months, they are often more willing to negotiate and offer attractive incentives to attract tenants. 

For example, in January, the average rental price in New York was approximately $4,064. In contrast, during the summer, prices increased to around $4,726 in June, which is an increase of $662, or roughly 16.3%. Therefore, if cost savings are your top priority, winter is the best time to start your apartment search.

Summer is best for more rental listings

Summer is the peak season for apartment hunting, offering a broader selection of available apartments. From May to September, the rental market experiences significant turnover as many leases end and new ones begin, resulting in higher inventory. This influx of available units provides renters with a wide variety of options to choose from, including different sizes, styles, and locations. 

While rental rates tend to be higher during these months due to increased demand, the abundance of listings makes it easier to find a place that meets your specific needs and preferences. Additionally, moving during the summer months can be more convenient due to longer daylight hours and more predictable weather​​. For those prioritizing selection and variety, summer is the optimal time to search for an apartment.

Renting an apartment in the Fall or Spring? Here are the pros and cons 

Renting  apartments in the Fall

Pros:

• Lower rental rates: As the peak rental season winds down, landlords may be more willing to negotiate lower rents or offer incentives such as a free month’s rent or reduced security deposits to fill vacancies before the slower winter months​​.
• Lower competition: There are fewer people moving during the fall compared to the summer, which means less competition for available units. This can give you more time to consider your options without the pressure of making a quick decision​.
• Mild weather: The weather in the fall is generally mild, making the moving process more comfortable compared to the extreme heat of summer or the cold of winter.

Cons:

• Limited inventory: The number of available listings tends to decrease after the peak summer season, which can limit your options for finding the perfect apartment​.
• Lease overlap: If you are currently in a lease that ends in the summer, moving in the fall may require you to break your existing lease or manage a period of overlapping leases, which can be costly.

Renting  apartments in the Spring

Pros:

• Increased inventory: Spring marks the beginning of the peak rental season, with many leases ending in the summer. This results in a higher number of available listings, providing you with a wide variety of options to choose from​​.
• Best weather: Spring offers pleasant weather conditions, making it an ideal time for moving and apartment hunting. You can explore neighborhoods and visit potential apartments without the discomfort of extreme temperatures.

Cons:

• Higher rental rates: As demand increases during the spring, rental rates tend to rise. Landlords are less likely to offer discounts or incentives, and you may end up paying a premium for your new apartment​.
• Increased competition: The influx of renters looking to move in the summer means more competition for available units. You may need to act quickly and be prepared to make decisions on the spot to secure a desirable apartment​.

Remember: Different cities have different peak times

The general trends for when to rent an apartment hold true, but peak rental seasons can vary significantly depending on the city. For instance in college towns, the best time to look for an apartment is often right after the school year starts in September, with many leases becoming available at the end of the school year in early spring. 

In cities like New York, peak rental activity occurs in the summer, while in places like Miami and Atlanta, the high season extends from May through November and may not see as intense of a spike. Understanding these regional differences can help you strategically plan your apartment search to find the best deals and most suitable options for your needs.

Best time to rent and apartment FAQs

What time of year is rent the cheapest?

If your main concern is saving money, the cheapest time to rent an apartment is during the winter, especially in November. During the holiday season, less people are moving, resulting in lower demand and rental rates. While you might have fewer choices of available apartments since most leases end in the summer, landlords are often more willing to offer lower rental rates and concessions, such as skipping the security deposit or offering better deals on utilities, to avoid having units sit empty.

What is the best time of the month for apartment hunting?

The best time of the month for apartment hunting is generally in the middle of the month. This timing is strategic because many leases end at the end of the month, and landlords start listing new vacancies and preparing units for new tenants around the middle of the month. By beginning your search mid-month, you can get a head start on newly available listings. This helps you avoid the rush at the end of the month when many others are also looking to secure new rentals. 

What time of the month do most apartments become available?

Most apartments become available at the beginning of the month. This is primarily because leases typically end on the last day of the month, and new tenants often move in at the start of the new month. Consequently, landlords and property managers prepare for turnover during this period, listing new vacancies and getting units ready for incoming tenants. To maximize your chances of finding an available apartment, it is beneficial to start your search a few weeks before the end of the month and be ready to act quickly as new listings appear.

How early should you look for an apartment?

You should start looking for an apartment about 30 to 60 days before your desired move-in date. This time frame allows you to explore various options, complete necessary paperwork, and arrange for any needed moving logistics without feeling rushed. 

What is the best time of day to search the rental market?

If you want to get really specific, the best time to check online listings is between 9 and 10 a.m. Why? That's when property managers are most likely to post new apartment listings for recently vacated rentals. You can strike while the iron is hot.

Rental data and prices is from Redfin and was pulled in June 2024