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 August, the average price per sq.feet was $112.22. In the following month the price per sq.feet fell considerably to $31.03. The price for the following two months in (October, November) had a considerable fall of 16 with regard to the previous two months. The price per sq.feet has had a considerable fall of 36 % 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 $41.58 to $14.84 during December, and January.
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 August, the average price is $2,774. In September This price remains at $2,656. During the following two months (October, November) the price has had an average rise from $2,715 to $2,929.5. 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 $2,822.25 and $2,879 between December and January.
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 $2,907 they are 17 % more affordable than the average price for Brooklyn . The properties with the highest average price have 4 bedrooms, Their price is 63 % more expensive than the average. After that we have properties with 3 bedrooms priced at $3,425.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $4.52 / sq.feet, with an average $24.08 / sq.feet price in Brooklyn. The properties with the most expensive average prices have 2 bedrooms. They are 45 % more expensive than the average followed by properties with 1 bedroom with a price at $30.16 / sq.feet.
The graph displaying the average rent prices displays the property type "Condo" as the most affordable one. At an cost of $2,907 it is 13 % more affordable than the average price in Brooklyn. "Land" is seen as the second most affordable property type. The most expensive property type is "" followed by "House". At a price of $3,697 it is 37 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Apartment" at an average price of $3.05 / sq.feet followed by "House" priced at $4.12 / sq.feet. "Townhouse" is the most expensive type of property with a $146.78 / sq.feet value followed by "Condo" with an average price of $54.29 / sq.feet.