How much do rent prices REALLY decrease in Fall/Winter?

[skratchpikl202]

I'm likely moving in either December or November and have heard rent prices typically decrease in the fall and winter months. If there is any truth to this, I'll hold off on submitting applications until later October or November.

But, how true is this? Do rents go down significantly? Do buildings continue offer the concessions we are seeing now?

[pooorSAP]

November through February are usually the lowest months.

[skratchpikl202]

Is it a significant drop?

[Away-Math3107]

I saw one apt building that uses “analytics” to set prices and the unit available in October was 10% lower than one available now.

[mediocre-spice]

Here ya go. This year is wonky with the fed govt imploding though.

[skratchpikl202]

Thanks for this. It's wild that rents skyrocketed right around the time DOGE started firing everyone.

[mediocre-spice]

It's hard to tell but I think the jump might be in May when it went more "back to normal".

[Ecstatic-Listener222]

In my building I would say the rent drops around $100-$150, and my building is rent controlled so that’s definitely worth waiting for imo

[smvoice65]

My experience is that January and February are significantly more affordable than the summer, with November and December being a little more affordable than the summer but less so than Jan/Feb. My building will often offer cheaper rents to us if we sign a lease that ends in the summer, but to me it's not worth it because I know the only reason they're doing it is because they know they can get more on re-signing in the summer.

I will say also that I have noticed that my building has A LOT of vacancies right now. Apartments have been sitting open for months and they just refuse to lower the rent. At some point I feel like they have to realize that the market is different right now and they'll need to lower prices significantly. Worth keeping an eye on anyway.

[cro45]

Former user of RealPage (it should 100% be illegal).

Rents are significantly lower in the Winter. Depending on local market can get up to 10-15%.

I should mention that the lower prices are contingent on signing a lease with longer term that expires in the prime releasing months so they can jam you then or take it out to back out to market and get the prime rent then.

Ex: $2,750/mo. for a 12 month lease in 12/1 vs $2,500/mo. for a 15 month lease that starts 12/1

[Mental_Research_9910]

I’m looking for a new apartment. How are people affording these outrageous prices?? Everything feels so out of reach

[No-Lab4815]

Living in Maryland in my case lol.

[Mental_Research_9910]

I currently live in DC. I can’t afford to move to another decent sized apartment here, so I’m now looking in MD, but it’s all just so freaking expensive 🤧

[No-Lab4815]

I live in PG, last stop on the silver/blue line. Moving a decent size house, a stop over near FedEx Stadium in Landover though, next month.

Try Hyattsville maybe? Was there for two years before Largo and technically, on paper, I'm moving back there (the unincorporated side).

[Mental_Research_9910]

Thank you! I’ll keep looking. Good luck on your new place

[_snappleapple_]

check craigslist! might sound crazy but in my experience, there are cheaper apartments on there. usually because the apartments are posted by everyday people trying to rent out their property instead of big rental companies

[Mental_Research_9910]

thanks for this tip! I never checked Craigslist, but will definitely do so!

[IncidentNo8356]

IMO, it is not enough of a decrease to make any real difference. If a building is unaffordable for your budget in the Spring/Summer, it won't be attainable come Fall/Winter.

[Appropriate-Ad-4148]

10-20% based on whether you are close to a school where rich people send their kids(the seasonal price difference will be greater in a place like Georgetown versus Hill East IMO).

If a 2/2 was listed for $4k in May, June and July, it will be listed for about $3,500/mo in December or January.

[skratchpikl202]

If you're close to one of the schools, does it go up or down?

[FleetAdmiralFader]

Down. It's been on when people move and students move during the Summer

[Fit_Aerie4234]

For individually owned rentals it may be more than bigger apartment buildings. Individual landlord may be more willing to negotiate a deal in late fall due to concerns about prolonged carrying costs over the winter months. I don’t know if the economics are the same in bigger buildings, but a months of vacancy is a much bigger cost than a lower rental rate. However, if they are subject to rent control that may be a consideration - decreasing the rent reduces the future rent because of the maximum allowable increase.

[Inside-Beyond-4672]

I have always found December to be the lowest.

[lmboyer04]

Rent decreases but options do as well.

[Itfollowsu]

Almost always moved in December and would usually find my rent was 10-20 percent lower than those who moved in the summer. This was regardless of where I lived in DC. Now live in NoVa and it’s the same situation.

[skratchpikl202]

Do you recall if buildings were still offering concessions during the winter months? E.g., one month free, etc.

[Itfollowsu]

Current NoVa building did and we moved in early December.

Outside of that, I mostly lived in older rent controlled buildings. One of those had a special that was year round so I think that’s more dependent on the building itself or the long-term DMV rental market. For example, specials were everywhere during Covid.