When looking to rent either a house or an apartment, there are a lot of things to think about. When it comes to signing a lease, there are a number of personal considerations that come into play, ranging from the consistency of your cash flow to the immediacy of a move. However, if you are conscious of the greatest time of year to begin your search for a rental property, you will be able to get a more favorable deal. There is a pattern of cyclical ups and downs in the seasonal real estate market. If you pay attention to these cycles, you may have a better chance of purchasing the home of your dreams at a price that is within your financial means.

Apartment to Rent

Renters who want the most flexibility in their housing options should make their move between May and September; buyers should look to move between October and April for the best deals. Here is why that is the case, in addition to some other suggestions for when you should start looking for a house.

• The real estate market has a propensity to be cyclical and seasonal; paying attention to these cycles can have an effect on the ease with which you search for a rental and the price that you will pay for one.

• Because there is a significant amount of turnover between the months of May and September, the available apartment inventory is at its highest during these months. Rental prices have a tendency to increase throughout the summer months as well.

• The months of winter, which run from October to April, have rental rates that are at their most affordable, with demand and prices reaching their lowest point between the months of January and March.

The middle of the month prior to the month in which you plan to move is the ideal time to start looking for an apartment.

Summer Months Are Best for Rental Selection

The months of May through September are typically the busiest time of year for moving and renting, respectively. The explanation for this is not too difficult to figure out: There is a high probability that significant life changes will take place during these months. A significant number of high school graduates are moving away to attend colleges or find jobs.

Many recent college grads are looking for homes located in close proximity to the cities in which they intend to launch their careers. And of course, this is the best time of year for families with children while they are not in school.

Moving is also made much simpler when the weather condition is warmer because it will be easy to drive, load and unload furniture, and carry boxes.

The real estate industry is experiencing a much higher turnover rate as a direct result of the life changes and weather conditions. Consequently, during the summer months it is much simpler to locate an apartment, and there is also a greater number of apartments available from which to select. However, due to the fact that the summer months see the highest levels of rental activity, there is also an extremely high demand for rental space during this time of year. This results in an increase in the cost of rates and rental fees, which can sometimes be as much as twice as much as what could be negotiated during the shoulder seasons of fall and winter.

Hunting during this time of year can also be more stressful because: In your search for the ideal location, you could come up against increased levels of competition. If a prospective tenant finds a rental space that they like, they usually need to be prepared to move quickly and even sign the lease right there and then.

Prices for apartments in metropolitan areas between May 2020 and May 2021 decreased year over year in San Antonio, Texas; Seattle; Washington, District of Columbia; and Fort Wayne, Indiana; however, they increased in Las Vegas; Houston; Winston-Salem, North Carolina; and Jacksonville, Florida. It would appear that the current economic crisis is having a mixed impact on rents. There are also variations that occur depending on the square footage of the apartment: In New York City, for example, the average rent for a one-bedroom apartment has decreased by more than 12%, while the rent for a two-bedroom apartment has increased by more than 16%.

Winter Months Are Best for Rental Savings

Prices tend to go down in tandem with a drop in temperature. The months of October through April are typically when rental rates are at their most affordable, particularly in the first few weeks following the conclusion of the December holiday season. There are fewer people who are interested in moving because of factors such as the bad weather and the fact that schools are currently in session. Therefore, individuals who are looking to rent a home or apartment between the months of December and March typically find the best deals. On the other hand, low levels of moving activity and turnover usually mean that it's more difficult to locate exactly the type of apartment you would like at this time. This may make it more challenging for you to find an unit or apartment at this time.

How Early to Apartment Hunt

When is the best time to rent? That really depends on your situation, including the type of housing you want, how much you want to pay for it, and how flexible you are about moving. People who are more concerned with finding the most affordable homes should schedule their moves during the months of October through April, while people who are more concerned with finding the most choices among available homes must conduct their searches during the months of May through September.