The rent prices in real estate in Billings, in the Montana 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 Billings has had a strong fall during the last 6 months. In July, the average price per sq.feet was $5.57. In the following month the price per sq.feet fell considerably to $0.92. The price for the following two months in (September, October) had a considerable fall of 30 with regard to the previous two months. The price per sq.feet has had a considerable fall of 44 % 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 $2.11 to $0.94 during November, and December.
When referring to the price in Billings (cities), this has risen in the last 6 months. In our first sample month during July, the average price is $1,036. In August This price remains at $1,030. During the following two months (September, October) the price has had an average rise from $1,033 to $1,111. 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 2 bedrooms are the most affordable ones. At a price of $1,170 they are 18 % more affordable than the average price for Billings . The properties with the highest average price have 4 bedrooms, Their price is 21 % more expensive than the average. After that we have properties with 3 bedrooms priced at $1,290.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $0.8 / sq.feet, with an average $0.89 / sq.feet price in Billings. The properties with the most expensive average prices have 1 bedroom. They are 63 % more expensive than the average followed by properties with 2 bedrooms with a price at $0.94 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $1,170 it is 34 % more affordable than the average price in Billings. "House" is seen as the second most affordable property type. The most expensive property type is "Townhouse" followed by "House". At a price of $985 it is 15 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Townhouse" at an average price of $0.77 / sq.feet followed by "House" priced at $1.06 / sq.feet. "House" is the most expensive type of property with a $1.06 / sq.feet value followed by "Townhouse" with an average price of $0.77 / sq.feet.