The rent prices in real estate in New Bedford, in the Massachusetts region have fallen considerably in the last couple of months. There has been a strong fall in the rent prices in this city.
The price per sq.feet in New Bedford has had a strong fall during the last 6 months. In October, the average price per sq.feet was $3.78. In the following month the price per sq.feet fell considerably to $3.08. The price for the following two months in (December, January) fell 87 % with regard to the previous two months. The price per sq.feet has fallen 92 % 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 $3.21 to $2.95 during February, and March.
When referring to the price in New Bedford (cities), this has fallen in the last 6 months. The average price for October is $2,474. During November the price had a slight fall till $2,337. In the following two months the average price has hardly changed with regard to the previous two months from $2,405.5 to $2,323.5. During the last two months, the average price has barely gone through any changes with regard to the previous average values going from an average value of $2,364.5 and $2,375.5 between February and March.
The graph displaying the average rent price for bedrooms illustrates that those properties with 2 bedrooms are the most affordable ones. At a price of $2,319 they are 10 % more affordable than the average price for New Bedford . The properties with the highest average price have 4 bedrooms, Their price is 430 % more expensive than the average. After that we have properties with 1 bedroom priced at $2,407.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $1.9 / sq.feet, with an average $2.8 / sq.feet price in New Bedford. The properties with the most expensive average prices have 4 bedrooms. They are 107 % more expensive than the average followed by properties with 1 bedroom with a price at $4.11 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $2,319 it is 42 % more affordable than the average price in New Bedford. "House" is seen as the second most affordable property type. The most expensive property type is "Land" followed by "Condo". At a price of $3,184 it is 188 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "House" at an average price of $1.88 / sq.feet followed by "Land" priced at $4.71 / sq.feet. "Condo" is the most expensive type of property with a $5.57 / sq.feet value followed by "Land" with an average price of $4.71 / sq.feet.