The rent prices in real estate in Austin, in the Texas 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 Austin has risen strongly during the last 6 months. In February, the average price per sq.feet was $1.72. In the following month the price per sq.feet rose considerably to $7.42. The price for the following two months in (April, May) had a considerable fall of 41 with regard to the previous two months. The price per sq.feet has had a considerable fall of 57 % 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 $3.23 to $1.84 during June, and July.
When referring to the price in Austin (cities), there have hardly been any changes in the last 6 months. In our first sample month during February, the average price is $1,494. In March This price remains at $1,490. In the following two months the average price has hardly changed with regard to the previous two months from $1,492 to $1,462.5. Based on an analysis of the first four prices and the last two months the average price has increased 111 % 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 $1,721 they are 17 % more affordable than the average price for Austin . The properties with the highest average price have 4 bedrooms, Their price is 75 % more expensive than the average. After that we have properties with 3 bedrooms priced at $2,199.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $1.36 / sq.feet, with an average $1.9 / sq.feet price in Austin. The properties with the most expensive average prices have 1 bedroom. They are 8 % more expensive than the average followed by properties with 2 bedrooms with a price at $1.72 / sq.feet.
The graph displaying the average rent prices displays the property type "Villa" as the most affordable one. At an cost of $1,721 it is 25 % more affordable than the average price in Austin. "House" is seen as the second most affordable property type. The most expensive property type is "Duplex" followed by "Townhouse". At a price of $2,067 it is 41 % 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 $1.67 / sq.feet followed by "Duplex" priced at $1.72 / sq.feet. "Villa" is the most expensive type of property with a $21 / sq.feet value followed by "Townhouse" with an average price of $1.96 / sq.feet.