Here’s When You Should Sign a Lease — And When You Shouldn’t

Here’s When You Should Sign a Lease — And When You Shouldn’t

Winter gets a lot of shade thanks to its lack of general creature comforts like warmth and sunlight, but it turns out, there is a pro to the season: It can be a great time to sign a lease on a rental home.

Prices are best from December through March, according to a study from RentHop, while costs spike from May through October. Savings can be anywhere from $37 to $171 per month for a 1-bedroom and $36 to $191 for a 2-bedroom.

Now, $36 may not sound like a lot, but that’s $432 over a year — not a small sum when you factor in other costs, like the security deposit, broker’s fee and moving. And $191 a month adds up to almost $2,300 a year.

Here’s a look at the difference in median rent prices between the best and worst months for each city — aka your guide to the best times to rent:

1. New York

1-bedroom
February: $3,000; July: $3,171; Difference: $171
2-bedroom
February: $3,400; June: $3,591; Difference: $191

2. Los Angeles

1-bedroom
November: $2,000; June: $2,085; Difference: $85
2-bedroom
December: $2,500; September: $2,603; Difference $103

3. Chicago

1-bedroom
March: $1,700; October: $1,757; Difference: $57
2-bedroom
March: $2,200; September: $2,335; Difference: $135

4. Dallas

1-bedroom
December: $1,100; March: $1,141; Difference: $41
2-bedroom
December: $1,400; May: $1,469; Difference: $69

5. Houston

1-bedroom
January: $1,000; October: $1,040; Difference: $40
2-bedroom
January: $1,300; August: $1,358; Difference: $58

6. Washington, D.C.

1-bedroom
December: $2,000; August: $2,065; Difference: $65
2-bedroom
November: $2,400; August: $2,488; Difference: $88

7. Philadelphia

1-bedroom
February: $1,100; May: $1,153; Difference: $53
2-bedroom
December: $1,500; May: $1,560; Difference: $60

8. Miami

1-bedroom
December: $1,500; July: $1,537; Difference: $37
2-bedroom
December: $2,000; July: $2,051; Difference: $51

9. Atlanta

1-bedroom
December: $1,300; September: $1,354; Difference: $54
2-bedroom
December: $1,500; September: $1,536; Difference: $36

10. Boston

1-bedroom
February: $2,200; September: $2,278; Difference: $78
2-bedroom
January: $2,800; September: $2,911; Difference: $111

RELATED: The Apartment Amenities That Will Raise Your Rent Most

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