Finding rental price "sweet" spot

[Joseph Blum]

Under 2k/month rental.  How significant would a $100 price difference be to potential renters.  We marketed an apartment and got a couple of showings and no applications.  2-3 weeks later we dropped price $200 and had 6 applications in a week, every showing resulted in an application.  Was it the $200 or better timing (area influenced by seasonal rent spikes and we just missed the cut off...) or what are other factors to take into consideration before lowering price.