The rent prices in real estate in Cumberland, in the Maryland 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 Cumberland has had a strong fall during the last 6 months. In July, the average price per sq.feet was $28.67. In the following month the price per sq.feet fell considerably to $19.36. The price for the following two months in (September, October) had a considerable fall of 49 with regard to the previous two months. The price per sq.feet has hardly changed in the last two months compared to the average price of the previous four months going from an average price of $17.91 to $17.57 during November y December
When referring to the price in Cumberland (cities), there have hardly been any changes in the last 6 months. The average price during our first sample month during July, is $788. During August the price went through a considerable rise reaching $1,039. During the following two months (September, October) the average price had a considerable fall of 71 % with regard to the previous two months. 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 $779.25 and $749.5 between November and December.
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 $755 they are 40 % more affordable than the average price for Cumberland . The properties with the highest average price have 2 bedrooms, Their price is 30 % more expensive than the average. After that we have properties with 3 bedrooms priced at $774.
With regard to the average price per sq.feet, those properties with 1 bedroom are the most affordable ones at a cost of $0.73 / sq.feet, with an average $18.74 / sq.feet price in Cumberland. The properties with the most expensive average prices have 2 bedrooms. They are 72 % more expensive than the average followed by properties with 3 bedrooms with a price at $7 / sq.feet.
The graph displaying the average rent prices displays the property type "Townhouse" as the most affordable one. At an cost of $755 it is 7 % more affordable than the average price in Cumberland. "" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Land". At a price of $769 it is 3 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Land" at an average price of $2 / sq.feet followed by "House" priced at $7 / sq.feet. "House" is the most affordable type of property with a $7 / sq.feet value followed by "Land" with an average price of $2 / sq.feet.