First Week Of July Is The Best Time All Summer To Rent In SoHo

SOHO, NY — Looking for an apartment to rent in SoHo? The best time during the summer is just around the corner.

Unlike many other Manhattan and Brooklyn neighborhoods, the best time all summer to rent a one-bedroom in SoHo is the first week of July — when the demand for apartment rentals plummet for the summertime, a new analysis from StreetEasy shows.

The best time is during the winter months — with the lowest demand in December and January, according to the analysis.

In SoHo, the highest demand peaks during the third week of May, so renters will see decreasing demands for apartments in the coming months.

StreetEasy's new analysis shows the months when there's the highest demand for a one-bedroom in Manhattan and Brooklyn. Some 80 percent of neighborhoods StreetEasy analyzed have the highest demand in July —differing from the analysis on SoHo.

The summertime competition for rental units in the neighborhoods StreetEasy studied is also, in part, due to a higher number of rental availabilities during July, the real estate listing website says. Per StreetEasy, there are 11 percent more rentals available than other months. In December, the stock is 12 percent below average.

See below for images, courtesy of StreetEasy, of the change in rental demands in SoHo throughout the year.

SoHo:

StreetEasy's renter demand analysis looked various data points, including how rents have changed, how quickly units were taken off the market, among other points from 2016 to 2018.

See how other neighborhoods fare below: