- August is the most expensive month to rent in Chicago.
- Rental prices are below neutral from December through May.
When faced with the decision to rent a new place, city dwellers have to make the choice of which season makes most sense for them. While piling personal items into a U-Haul during a January snowstorm doesn’t sound like the most stress-free experience, sometimes it means paying significantly less each month.
RentHop recently crunched the data to determine the relative seasonal rent differences for each month out of the year. And even in the warmest of climates, the holiday season tends to be the perfect time of year for renters to find a great deal.
August is the most expensive month of the year to rent in Chicago. June renters may see some increased prices, but rental prices dropped off just for one month in July before picking back up August through October.
July renters will find the most neutral home prices throughout the year, which is the opposite of other metros like New York City, where that time of the year is the most expensive. Another surprise for Chicagoans is that April is the least expensive month to rent, and December prices are just below the neutral line.