The rent prices in real estate in Detroit, in the Michigan region have slightly risen in the last couple of months. There has been a rise in the rent prices in this city.
The price per sq.feet in Detroit has risen during the last 6 months. In November, the average price per sq.feet was $1.16. In December this price barely changed remaining at $1.17 per sq.feet. In the following two months the price per sq.feet has practically remained the same, going from $1.16 to $1.18 per sq.feet. The price per sq.feet has had a considerable rise of 117 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $1.17 to $1.38 during March, and April.
When referring to the price in Detroit (cities), there have hardly been any changes in the last 6 months. In our first sample month during November, the average price is $1,208. In December This price remains at $1,187. In the following two months the average price has hardly changed with regard to the previous two months from $1,197.5 to $1,149.5. Based on an analysis of the first four prices and the last two months the average price has increased 106 % during the last two months.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of $1,220 they are 9 % more affordable than the average price for Detroit . The properties with the highest average price have 4 bedrooms, Their price is 34 % more expensive than the average. After that we have properties with 2 bedrooms priced at $1,447.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $1.07 / sq.feet, with an average $1.43 / sq.feet price in Detroit. The properties with the most expensive average prices have 1 bedroom. They are 29 % more expensive than the average followed by properties with 2 bedrooms with a price at $1.48 / sq.feet.
The graph displaying the average rent prices displays the property type "Condo" as the most affordable one. At an cost of $1,220 it is 8 % more affordable than the average price in Detroit. "" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Land". At a price of $1,256 it is 7 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Condo" at an average price of $1.04 / sq.feet followed by "Land" priced at $1.11 / sq.feet. "House" is the most expensive type of property with a $1.73 / sq.feet value followed by "Land" with an average price of $1.11 / sq.feet.