The rent prices in real estate in Duluth, 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 Duluth has risen strongly during the last 6 months. In November, the average price per sq.feet was $1.52. In December this price barely changed remaining at $1.58 per sq.feet. In the following two months the price per sq.feet has risen 110 %, going from $1.55 to $1.7 per sq.feet. The price per sq.feet has had a considerable rise of 119 % 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 $1.62 to $1.93 during March, and April.
When referring to the price in Duluth (cities), there have hardly been any changes in the last 6 months. In our first sample month during November, the average price is $1,541. In December This price remains at $1,483. In the following two months the average price has hardly changed with regard to the previous two months from $1,512 to $1,493. 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 $1,502.5 and $1,478.5 between March and April.
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 $1,485 they are 9 % more affordable than the average price for Duluth . The properties with the highest average price have 3 bedrooms, Their price is 76 % more expensive than the average. After that we have properties with 4 bedrooms priced at $1,851.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $1.51 / sq.feet, with an average $2.12 / sq.feet price in Duluth. The properties with the most affordable average prices have 2 bedrooms. They are 3 % more affordable than the average followed by properties with 1 bedroom with a price at $2 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $1,485 it is 5 % more affordable than the average price in Duluth. "House" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "Land". At a price of $1,935 it is 113 % 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 $1.56 / sq.feet followed by "House" priced at $2.13 / sq.feet. "Condo" is the most expensive type of property with a $2.54 / sq.feet value followed by "House" with an average price of $2.13 / sq.feet.