These Are The Best and Worst Months to Rent in NYC, According to Study
If you're looking for an apartment now, you're in luck -- the February lease tends to be cheapest
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What to Know
The best or cheapest month to rent in New York City is February, according to a new study from RentHop
The worst or most expensive month to rent in NYC is July for a 1-bedroom, and June for a 2-bedroom
The peak-to-trough price difference from the best month to worst month is over 5 percent
New York City rents really are cheaper in the winter months, by as much as 5 percent than during the peak summer leasing season, a new study finds.
RentHop.com examined rental trends across the top 10 cities in the U.S. to find the best and worst times to rent, and found that in general the "best," or cheapest months to rent, tended to be between December and March, while the worst, or most expensive months to rent, are from May through October.
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New York tours and attractions: Empire State building with One World Trade Center in the distant background.
Financial website WalletHub compared 62 of America's biggest cities to determine the most and least expensive to live in.
Long Beach, California, is the fifth most expensive big city to live in, according to WalletHub. It ranks also 56th overall as the best city to live in on the list of 62.
Oakland, California, is the fourth least affordable city in the nation, according to WalletHub. However, it has been ranked the fourth best city for education and health in the same study.
Los Angeles in the third least affordable city in the nation, according to WalletHub. While it may be expensive, it does have one of the top 10 quality of life rankings.
Boston, Massachusetts, is the second least affordable city in the nation. It also has one of the lowest home ownership rates, according to WalletHub.
It comes as no surprise that New York City is the least affordable cities in the nation.
Financial website WalletHub compared 62 of America's biggest cities to determine the most and least expensive to live in.
Wichita, Kansas, may be the fifth most affordable city in the nation, but it received low ranks for safety and quality of life, according to WalletHub.
Colorado Springs, Colorado, is the fourth most affordable city in the nation, according to WalletHub. It also ranks high for education, health and safety.
Virginia Beach, Virginia, which has been named the best big city to live in the nation, is also the third most affordable.
Louisville, Kentucky, is the second most affordable city in the nation, according to WalletHub. But it ranked it low for education and health in the same study.
Oklahoma City, Oklahoma, is the most affordable city in the nation, according to WalletHub.
In New York City, the best deal for a 1-bedroom apartment could generally be found in February, for a median of $3,000. The worst month to find a deal is in July, where rent median is $3,171. That's a 5.4-percentage difference amounting to about $170.
For a 2-bedroom apartment in New York City, the best deal is still in February, for a median of $3,400. The worst month is June, where rents are close to $3,600.
"For those currently looking to find an apartment, you're actually in luck. February is seasonally the cheapest month in New York," the RentHop study says. "Rental prices start to increase in early May and peak around June/July/August. Rents start to taper again starting in October, before reaching a low in February.
"Interestingly, the lower-price periods and higher-price periods actually last for a while, and seasonal price flips happen fairly rapidly (over a span of only 1-2 months)," RentHop says.
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Pollo frito
bionicgrrrl / Flickr
Pies 'n' Thighs in Brooklyn offers up exactly what its name suggests, chicken and signature pies for dessert. More on Pies 'n' Thighs here.
Garrett Ziegler / Flickr
Hill Country Chicken has locations in both Manhattan and Brooklyn. This chicken joint serves up Texas-style cooking. More on Hill Country Chicken here.
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Blue Ribbon Fried Chicken in the East Village is among the more popular chicken restaurants in NYC. Two brothers from New Jersey started it after attending culinary school in France. More on Blue Ribbon Fried Chicken here.
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Fuku, which has locations throughout the city, serves up fried chicken sandwiches and other small bites. More on Fuku here.
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Bobwhite Counter in the East Village claims to have the "best fried chicken in NYC." We'll let you be the judge. More on Bobwhite Counter here.
Kok Chih & Sarah Gan / Flickr
Unidentified Flying Chickens in Queens is known for its Korean-style fried chicken. They serve up craft beer on tap and offer a variety of flavorful sauces. More on Unidentified Flying Chickens here.
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Dirty Bird to Go has locations in Chelsea and Tribeca. They serve up organic fried chicken and homemade sides. More on Dirty Bird to Go here.
Factors playing into the New York City rental market are the out-of-town college student population, new graduates starting jobs, and the northeast climate, making New York subject to high seasonal temperature variation compared to the west or south.
RentHop used data between 2011 through 2017 for its study. To see the full results of the study, including in other cities, click here.
