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 March, the average price per sq.feet was $1.9. In April this price barely changed remaining at $1.88 per sq.feet. In the following two months the price per sq.feet has practically remained the same, going from $1.89 to $1.93 per sq.feet. The price per sq.feet has had a considerable rise of 339 % 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 $1.91 to $6.48 during July, and August.
When referring to the price in Ann Arbor (cities), this has risen considerably in the last 6 months. The rent price in March is $1,477, rising in April till $1,570. During the following two months (May, June) the average price had a considerable rise of 118 % with regard to the previous two months. 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 $1,767 they are 22 % more affordable than the average price for Ann Arbor . The properties with the highest average price have 4 bedrooms, Their price is 55 % more expensive than the average. After that we have properties with 3 bedrooms priced at $1,999.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $1.52 / sq.feet, with an average $6.63 / sq.feet price in Ann Arbor. The properties with the most expensive average prices have 2 bedrooms. They are 23 % more expensive than the average followed by properties with 1 bedroom with a price at $3.9 / sq.feet.
The graph displaying the average rent prices displays the property type "Land" as the most affordable one. At an cost of $1,767 it is 15 % more affordable than the average price in Ann Arbor. "House" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "". At a price of $1,688 it is 61 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Land" at an average price of $1.51 / sq.feet followed by "Condo" priced at $2.09 / sq.feet. "House" is the most expensive type of property with a $20.05 / sq.feet value followed by "Condo" with an average price of $2.09 / sq.feet.