The rent prices in real estate in Ann Arbor, in the Michigan region have risen considerably in the last couple of months. There has been a strong rise in the rent prices this city.
The price per sq.feet in Ann Arbor has risen strongly during the last 6 months. In October, the average price per sq.feet was $2.26. In November this price barely changed remaining at $2.27 per sq.feet. The price for the following two months in (December, January) fell 92 % with regard to the previous two months. The price per sq.feet has had a considerable rise of 411 % 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 $2.18 to $8.95 during February, and March.
When referring to the price in Ann Arbor (cities), this has fallen considerably in the last 6 months. The average price for October is $1,903. During November the price had a considerable fall till $1,551. During the following two months (December, January) the average price fell 88 % with regard to the previous two months. 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 $1,624.25 and $1,584.5 between February and March.
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 $1,603 they are 20 % more affordable than the average price for Ann Arbor . The properties with the highest average price have 4 bedrooms, Their price is 64 % more expensive than the average. After that we have properties with 3 bedrooms priced at $2,313.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $2.08 / sq.feet, with an average $6.92 / sq.feet price in Ann Arbor. The properties with the most expensive average prices have 2 bedrooms. They are 88 % more expensive than the average followed by properties with 4 bedrooms with a price at $10.37 / sq.feet.
The graph displaying the average rent prices displays the property type "Duplex" as the most affordable one. At an cost of $1,603 it is 24 % more affordable than the average price in Ann Arbor. "" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "House". At a price of $1,641 it is 19 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Duplex" at an average price of $1.76 / sq.feet followed by "Condo" priced at $1.97 / sq.feet. "Townhouse" is the most expensive type of property with a $96.89 / sq.feet value followed by "House" with an average price of $12.67 / sq.feet.