The rent prices in real estate in Bessemer, in the Alabama 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 Bessemer has had a strong fall during the last 6 months. In July, the average price per sq.feet was $6.3. In the following month the price per sq.feet fell considerably to $0.76. The price for the following two months in (September, October) had a considerable fall of 23 with regard to the previous two months. The price per sq.feet has had a considerable fall of 37 % 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 $2.17 to $0.8 during November, and December.
When referring to the price in Bessemer (cities), there have hardly been any changes in the last 6 months. In our first sample month during July, the average price is $918. In August This price remains at $876. During the following two months (September, October) the price has had an average rise from $897 to $992. 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 $944.5 and $911.5 between November and December.
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 $826 they are 16 % more affordable than the average price for Bessemer . The properties with the highest average price have 4 bedrooms, Their price is 110 % more expensive than the average. After that we have properties with 3 bedrooms priced at $924.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $826 it is 1 % more affordable than the average price in Bessemer. "Townhouse" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "Townhouse". At a price of $827 it is 9 % more expensive than the average price.
According to the average cost per sq.feet, the least affordable property would be "Townhouse" at an average price of $10 / sq.feet followed by "Condo" priced at $20 / sq.feet. "Condo" is the most expensive type of property with a $20 / sq.feet value followed by "Townhouse" with an average price of $10 / sq.feet.