The rent prices in real estate in Durham, in the North Carolina 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 Durham has risen strongly during the last 6 months. In May, the average price per sq.feet was $1.17. In the following month the price per sq.feet rose considerably to $1.44. The price for the following two months in (July, August) had a considerable rise of 115 %. The price per sq.feet has had a considerable rise of 904 % 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 $1.4 to $12.7 during September, and October.
When referring to the price in Durham (cities), this has fallen in the last 6 months. The average price for May is $1,551. During June the price had a slight fall till $1,391. In the following two months the average price has hardly changed with regard to the previous two months from $1,471 to $1,489. 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 $1,480 and $1,434.5 between September and October.
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 $1,514 they are 12 % more affordable than the average price for Durham . The properties with the highest average price have 4 bedrooms, Their price is 25 % more expensive than the average. After that we have properties with 3 bedrooms priced at $1,642.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $0.89 / sq.feet, with an average $24.12 / sq.feet price in Durham. The properties with the most expensive average prices have 2 bedrooms. They are 181 % more expensive than the average followed by properties with 1 bedroom with a price at $57.61 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $1,514 it is 46 % more affordable than the average price in Durham. "House" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "Townhouse". At a price of $1,372 it is 2 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Townhouse" at an average price of $1 / sq.feet followed by "Condo" priced at $1.04 / sq.feet. "House" is the most expensive type of property with a $48.56 / sq.feet value followed by "Condo" with an average price of $1.04 / sq.feet.