The rent prices in real estate in Cambridge, in the Massachusetts region have risen considerably in the last couple of months. There has been a strong rise in the rent prices this city.
The price per sq.feet in Cambridge has risen strongly during the last 6 months. In November, the average price per sq.feet was $3.29. In the following month the price per sq.feet rose to $3.46. The price for the following two months in (January, February) had a considerable rise of 406 %. The price per sq.feet has had a considerable rise of 204 % 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 $8.54 to $17.46 during March, and April.
When referring to the price in Cambridge (cities), there have hardly been any changes in the last 6 months. The average price for November is $2,787. During December the price had a slight fall till $2,611. In the following two months the average price has hardly changed with regard to the previous two months from $2,699 to $2,679.5. 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 1 bedroom are the most affordable ones. At a price of $2,904 they are 13 % more affordable than the average price for Cambridge . The properties with the highest average price have 4 bedrooms, Their price is 64 % more expensive than the average. After that we have properties with 3 bedrooms priced at $3,549.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $3.24 / sq.feet, with an average $7.87 / sq.feet price in Cambridge. The properties with the most affordable average prices have 1 bedroom. They are 49 % more affordable than the average followed by properties with 2 bedrooms with a price at $3.46 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $2,904 it is 5 % more affordable than the average price in Cambridge. "Condo" is seen as the second most affordable property type. The most expensive property type is "" followed by "Townhouse". At a price of $3,137 it is 43 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "House" at an average price of $3.5 / sq.feet followed by "Townhouse" priced at $3.78 / sq.feet. "Condo" is the most expensive type of property with a $17.8 / sq.feet value followed by "Townhouse" with an average price of $3.78 / sq.feet.