The rent prices in real estate in Chatham, in the New Jersey 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 Chatham has had a strong fall during the last 6 months. In October, the average price per sq.feet was $99.53. In the following month the price per sq.feet fell considerably to $2.44. The price for the following two months in (December, January) had a considerable fall of 5 with regard to the previous two months. The price per sq.feet has had a considerable fall of 80 % 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 $26.7 to $21.48 during February, and March.
When referring to the price in Chatham (cities), there have hardly been any changes in the last 6 months. The average price for October is $2,522. During November the price had a slight fall till $2,394. In the following two months the average price has hardly changed with regard to the previous two months from $2,458 to $2,574.5. 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 $2,516.25 and $2,565 between February and March.
The graph displaying the average rent price for bedrooms illustrates that those properties with 4 bedrooms are the most affordable ones. At a price of $2,438 they are 21 % more affordable than the average price for Chatham . The properties with the highest average price have 3 bedrooms, Their price is 33 % more expensive than the average. After that we have properties with 2 bedrooms priced at $2,595.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $2 / sq.feet, with an average $26.27 / sq.feet price in Chatham. The properties with the most expensive average prices have 1 bedroom. They are 72 % more expensive than the average followed by properties with 2 bedrooms with a price at $2.55 / sq.feet.
According to average price per property type in Chatham, "" priced at $1,926 is 21 % lower than the average price ($2,438) in this city.