As rental markets have flattened out post-pandemic, one of the biggest advantages property owners have is timing. Knowing when renters are most active and aligning lease expirations with those periods can reduce vacancy, shorten days on market, and improve outcomes without relying on aggressive pricing.
At Living Room, we track move-ins, days on market, showing volume, and rental lead traffic across our portfolio. Looking at trends from the past three years gives us a clearer picture of how renter behavior has shifted, and how owners can use that information strategically.
Move-In Patterns: What Changed After the Pandemic
The idea of a single “busy season” has softened, but timing still matters.
- 2023: Most move-ins occurred in March, May, and August
- 2024: Activity shifted earlier, clustering in January, July, and August
- 2025: Move-ins spread out further, with peaks in April, August, and December
What this tells us is that renter mobility has become more flexible. Although there is some clear data that says August is Portland’s favorite time to make a move, the high-volume leasing periods are no longer limited to the traditional May–August window.
Days on Market Are Improving—With the Right Setup
We also saw meaningful movement in how quickly homes are leased once listed:
- 2023: Average days on market – 26 days
- 2024: Increased to 34 days
- 2025: Dropped to 20 days
For clarity, this metric measures the number of days between when a home is listed and when we receive an approved application from a tenant who later takes possession of the home.
The improvement in 2025 wasn’t accidental. It reflects better pricing discipline, stronger renewal planning, and more intentional preparation before homes hit the market.
Peak Interest vs. Peak Move-Ins (They’re Not the Same)
Another important distinction is between peak interest and peak move-ins.
Peak interest is determined by the number of rental leads we receive—often weeks before leases are signed.
- 2023: Fairly steady traffic, with modest peaks in mid-February, early March, and mid-July
- 2024: Two clear spikes in early April and late July
- 2025: More defined peaks in late April, mid-May, and mid-July
Interest typically leads to move-ins by several weeks. People want to get a feel for what the market has to offer weeks before they are ready to apply for a home. The tenants who haven’t been house hunting since the pandemic’s peak are ready to battle it out for a good listing and are pleasantly surprised to find there’s less competition this time around. Tenants are enjoying their time on Zillow and weekend touring without the pressure of a quick decision. Aligning listings with peak interest means you may attract more looky-loos, but it is also a great time to maximize your rental’s visibility.
Showings Still Matter (Even After an Application Is In)
Across the Living Room portfolio, we averaged 13 showings per listing in 2023 and 2025, and 14 showings per listing in 2024.
Some of those showings happen even after an application is already under review—and that’s not a bad thing. It gives us a real-world sense of how much interest a home is generating. Think of it this way: if we’ve had more than about 13 showings and still no solid bites, the market is giving us feedback, and it’s time to listen. That usually means a pricing tweak, a condition conversation, or both.
The upside? Those extra showings often turn into a waitlist. If the first applicant falls through, we’re not starting from scratch—we already have motivated renters lined up and ready to go.
Why Winter Leasing Has Worked (When Priced Right)
One of the reasons we’ve seen such strong winter leasing performance over the past two years comes down to pricing and what the last few cycles taught us.
During COVID, nearly every single-family home came with a waitlist a mile long. By the end of 2022, renters pushed back on inflated costs, started bunking up, staying put longer, or finding alternative housing. Demand didn’t disappear—but it changed fast.
By 2023, we adjusted. We began pricing more conservatively in winter months, aligning with what renters realistically expect that time of year. They were out looking for deals, so we gave them what they asked for and have had some of the busiest December and January leasing seasons ever.
After that first year-long lease, we also began offering 16-, 18-, and 24-month lease options. This allows renewals to be staggered into stronger leasing windows without forcing tenants into poorly timed moves. This stratagy seems to be a solid benefit for both owners and residents.
The takeaway: homes absolutely rent in the winter, but there’s an expectation that pricing reflects the season. That’s not a weakness—it’s a strategy.
And frankly, Portlanders don’t tend to wait for perfect weather to make life decisions. We move when the situation calls for it. Sure, it’s more fun to take listing photos in the sunshine—but who needs an umbrella anyway?
How Owners Can Use This Data Strategically
The biggest takeaway is that renewal timing is a strategic decision, not just an administrative one.
Owners who are seeing the strongest results are:
- Timing lease expirations ahead of peak interest windows
- Allowing at least two weeks for turnover preparation
- Holding good tenants through softer seasons when it makes sense
- Preparing homes early so listings go live when attention is highest
- Pricing based on current demand, not last year’s peak
In a flatter market, success comes from stacking small advantages—timing, preparation, pricing, and communication—rather than relying on outdated seasonal rules.
The Bottom Line
There’s no longer a single “best month” to lease a hom (well, maybe August), but there are smarter windows to aim for. Owners who plan lease terms with renter behavior in mind are seeing shorter vacancies, steadier performance, and fewer surprises.
Our role is to help owners use real portfolio data—not old assumptions—to make renewal and leasing decisions that support long-term stability.
From the desk of President and Broker, OR & WA – Coty Thurman