Across the 10 largest metropolitan areas nationwide, apartments were on average 3.9 percent cheaper to rent in the winter compared with the summer months, when competition is higher, according to a new study from RentHop.
The study identified two main factors causing price dips in the winter months: weather and student populations. Cities that are colder in the winter saw bigger discounts for renters, suggesting that the temperature can be an obstacle, keeping people from looking for a new home or apartment. Realtor.com reports that "the influx of college students at the end of summer proved to have a bigger effect on pricing difference between then and winter in cities with more universities."
From peak to trough, one-bedroom apartments are between 2.4 percent and 5.4 percent cheaper in the winter, while two-bedroom units are between 2.3 percent and 5.8 percent more affordable. In dollar figures, that equates to between a $37 and $171 per month savings for one-bedroom rentals and between $36 and $191 for two-bedrooms ... The monthly cost to rent a one-bedroom in L.A. tanks by more than 2.5 percent in November on average, while rent for a two-bedroom is cheapest in December in Miami.