Thinking about finding a new apartment in Los Angeles? You might be able to save money by moving in at exactly the right time, according to a new report from RentHop.
The study shows that rental prices in Los Angeles peak in June, when they are about 4.1 percent higher than in November—the most affordable month of the year to rent. Based on the median price of listings posted to the RentHop site in 2017, that 4.1 percent difference amounts to a savings of $85 per month for a one-bedroom unit.
If you’re renting a two-bedroom, the best time to do it is December, when prices are 4 percent lower than in September (when they peak). In 2017, renters saved themselves about $103 per month just by waiting three months to sign a lease.
Since the study is based mainly on data from RentHop’s site, these numbers are simply approximations and are likely to change from year to year. Still, they line up with national trends that suggest renters are likely to find better deals during the fall and winter months, when fewer people are moving.
According to the RentHop study, prices drop to a yearly low in each of the nation’s 10 largest urban areas between the months of November and March. On the flip side, prices reach their highest points in all 10 cities between May and October.
In Los Angeles, prices for both one- and two-bedroom apartments drop to their lowest points between November and January. One-bedroom prices spike in March, June, and July; two-bedrooms get pricey (or, you know, pricier than usual) in June and October.