The rent prices in real estate in Brooklyn, in the New York 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 Brooklyn has had a strong fall during the last 6 months. In January, the average price per sq.feet was $86.22. In the following month the price per sq.feet fell considerably to $62.01. The price for the following two months in (March, April) fell 87 % with regard to the previous two months. The price per sq.feet has had a considerable rise of 120 % 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 $69.43 to $83.36 during May, and June.
When referring to the price in Brooklyn (cities), there have hardly been any changes in the last 6 months. In our first sample month during January, the average price is $2,890. In February This price remains at $2,785. During the following two months (March, April) the price has had an average rise from $2,837.5 to $3,144. 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 $2,990.75 and $2,935 between May and June.
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 $2,902 they are 6 % more affordable than the average price for Brooklyn . The properties with the highest average price have 4 bedrooms, Their price is 44 % more expensive than the average. After that we have properties with 3 bedrooms priced at $3,339.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $48.06 / sq.feet, with an average $78.91 / sq.feet price in Brooklyn. The properties with the most affordable average prices have 1 bedroom. They are 7 % more affordable than the average followed by properties with 3 bedrooms with a price at $60.33 / sq.feet.
The graph displaying the average rent prices displays the property type "Land" as the most affordable one. At an cost of $2,902 it is 6 % more affordable than the average price in Brooklyn. "Condo" is seen as the second most affordable property type. The most expensive property type is "" followed by "Apartment". At a price of $3,384 it is 37 % 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 $2.99 / sq.feet followed by "Land" priced at $13 / sq.feet. "Apartment" is the most expensive type of property with a $131.14 / sq.feet value followed by "House" with an average price of $122.87 / sq.feet.