The rent prices in real estate in Detroit Lakes, in the Minnesota 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 Detroit Lakes has risen strongly during the last 6 months. In September, the average price per sq.feet was $1.34. In the following month the price per sq.feet rose to $1.52. In the following two months the price per sq.feet has risen 112 %, going from $1.43 to $1.61 per sq.feet. The price per sq.feet has risen 115 % 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 $1.52 to $1.74 during January, and February.
When referring to the price in Detroit Lakes (cities), this has fallen considerably in the last 6 months. The rent price in September is $1,765, rising in October till $1,895. During the following two months (November, December) the average price had a considerable fall of 68 % with regard to the previous two months. During the last two months the average price has fallen greatly compared to the previous four going from $1,536.25 to $1,079.5, which means a 70 % fall.
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 $1,026 they are 22 % more affordable than the average price for Detroit Lakes . The properties with the highest average price have 4 bedrooms, Their price is 55 % more expensive than the average. After that we have properties with 2 bedrooms priced at $1,279.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $1.2 / sq.feet, with an average $1.76 / sq.feet price in Detroit Lakes. The properties with the most expensive average prices have 2 bedrooms. They are 5 % more expensive than the average followed by properties with 1 bedroom with a price at $1.83 / sq.feet.
According to average price per property type in Detroit Lakes, "" priced at $941 is 8 % lower than the average price ($1,026) in this city.