The rent prices in real estate in Cambridge, in the Massachusetts 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 Cambridge has had a strong fall during the last 6 months. In June, the average price per sq.feet was $156.68. In the following month the price per sq.feet fell considerably to $19.72. The price for the following two months in (August, September) had a considerable fall of 5 with regard to the previous two months. The price per sq.feet has had a considerable fall of 14 % 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 $46.11 to $6.59 during October, and November.
When referring to the price in Cambridge (cities), this has risen in the last 6 months. The rent price in June is $2,893, rising in July till $3,322. In the following two months the average price has hardly changed with regard to the previous two months from $3,107.5 to $3,260. 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 $3,183.75 and $3,075.5 between October and November.
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 $3,061 they are 12 % more affordable than the average price for Cambridge . The properties with the highest average price have 4 bedrooms, Their price is 59 % more expensive than the average. After that we have properties with 3 bedrooms priced at $3,968.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $2.94 / sq.feet, with an average $9.23 / sq.feet price in Cambridge. The properties with the most expensive average prices have 1 bedroom. They are 322 % more expensive than the average followed by properties with 3 bedrooms with a price at $11.32 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most expensive one. At an cost of $3,061 it is 7 % more expensive than the average price in Cambridge. "Condo" is seen as the second most expensive property type. The most expensive property type is "" followed by "Apartment". At a price of $3,570 it is 21 % 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 $3.51 / sq.feet followed by "Condo" priced at $4.29 / sq.feet. "House" is the most expensive type of property with a $39.09 / sq.feet value followed by "Condo" with an average price of $4.29 / sq.feet.