The rent prices in real estate in Burlington, in the North Carolina 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 Burlington has had a strong fall during the last 6 months. In May, the average price per sq.feet was $5.94. In the following month the price per sq.feet fell to $5.14. The price for the following two months in (July, August) had a considerable fall of 70 with regard to the previous two months. The price per sq.feet has had a considerable fall of 25 % 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 $4.7 to $1.2 during September, and October.
When referring to the price in Burlington (cities), this has risen in the last 6 months. The rent price in May is $964, rising in June till $1,049. During the following two months (July, August) the price has had an average rise from $1,006.5 to $1,075. Based on an analysis of the first four prices and the last two months the average price has increased 105 % 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 $1,106 they are 14 % more affordable than the average price for Burlington . The properties with the highest average price have 4 bedrooms, Their price is 45 % more expensive than the average. After that we have properties with 3 bedrooms priced at $1,233.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $0.74 / sq.feet, with an average $1.19 / sq.feet price in Burlington. The properties with the most expensive average prices have 1 bedroom. They are 16 % more expensive than the average followed by properties with 2 bedrooms with a price at $1.18 / sq.feet.
The graph displaying the average rent prices displays the property type "Condo" as the most affordable one. At an cost of $1,106 it is 13 % more affordable than the average price in Burlington. "" is seen as the second most affordable property type. The most affordable property is "Apartment" followed by "House". At a price of $1,063 it is 0 % more affordable than the average price.
According to the average cost per sq.feet, the most affordable property is "House" at an average price of $0.85 / sq.feet followed by "Apartment" priced at $1.29 / sq.feet. "Condo" is the most expensive type of property with a $6 / sq.feet value followed by "Apartment" with an average price of $1.29 / sq.feet.