The Most Affordable Time of Year to Rent in Chicago
It’s not usual for Chicago to experience wide swings in its temperatures, but it seems the changing seasons may also usher in more affordability, at least when it comes to rental prices. A new report from Renthop looked at monthly rental prices of some of the most populous cities in the nation, and found a pretty good swing in Chicago rent prices.
According to Renthop, it’s generally more expensive to rent in September and October, and less expensive to rent in March and April. The biggest swing came in terms of a two-bedroom apartment in Chicago. It could mean a savings of about $176 per month.
The lower rents may be tied to Chicago’s winter season. Demand traditionally dips lower during the colder months of the year. On the other hand, so does the supply of apartments, giving prospective new residents fewer options to choose from.