The rent prices in real estate in Atlantic City, in the New Jersey 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 Atlantic City has had a strong fall during the last 6 months. In April, the average price per sq.feet was $3.59. In the following month the price per sq.feet fell to $3.2. The price for the following two months in (June, July) had a considerable fall of 80 with regard to the previous two months. The price per sq.feet has had a considerable fall of 85 % 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 $3.06 to $2.59 during August, and September.
When referring to the price in Atlantic City (cities), this has fallen considerably in the last 6 months. The average price during our first sample month during April, is $3,748. During May the price went through a considerable rise reaching $4,373. During the following two months (June, July) the average price fell 91 % with regard to the previous two months. During the last two months the average price has fallen greatly compared to the previous four going from $3,886 to $1,893.5, which means a 49 % fall.
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 $1,949 they are 17 % more affordable than the average price for Atlantic City . The properties with the highest average price have 4 bedrooms, Their price is 372 % more expensive than the average. After that we have properties with 3 bedrooms priced at $2,516.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $2.22 / sq.feet, with an average $2.68 / sq.feet price in Atlantic City. The properties with the most expensive average prices have 4 bedrooms. They are 134 % more expensive than the average followed by properties with 2 bedrooms with a price at $3.54 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $1,949 it is 50 % more affordable than the average price in Atlantic City. "Land" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Condo". At a price of $2,558 it is 76 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Detached House" at an average price of $1.92 / sq.feet followed by "Land" priced at $2.26 / sq.feet. "Condo" is the most expensive type of property with a $3.35 / sq.feet value followed by "House" with an average price of $3.1 / sq.feet.