The rent prices in real estate in East Orange, 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 East Orange has had a strong fall during the last 6 months. In July, the average price per sq.feet was $16.62. In the following month the price per sq.feet fell considerably to $2.74. The price for the following two months in (September, October) had a considerable fall of 26 with regard to the previous two months. The price per sq.feet has fallen 87 % 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 $6.08 to $5.26 during November, and December.
When referring to the price in East Orange (cities), there have hardly been any changes in the last 6 months. In our first sample month during July, the average price is $1,641. In August This price remains at $1,619. In the following two months the average price has hardly changed with regard to the previous two months from $1,630 to $1,566. 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 $1,598 and $1,574.5 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 $1,611 they are 6 % more affordable than the average price for East Orange . The properties with the highest average price have 4 bedrooms, Their price is 40 % more expensive than the average. After that we have properties with 2 bedrooms priced at $1,950.
With regard to the average price per sq.feet, those properties with 2 bedrooms are the most affordable ones at a cost of $2.22 / sq.feet, with an average $4.51 / sq.feet price in East Orange. The properties with the most expensive average prices have 4 bedrooms. They are 3958 % more expensive than the average followed by properties with 3 bedrooms with a price at $82.39 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $1,611 it is 10 % more affordable than the average price in East Orange. "Condo" is seen as the second most affordable property type. The most affordable property is "House" followed by "Condo". At a price of $1,461 it is 3 % more affordable than the average price.
According to the average cost per sq.feet, the most affordable property is "House" at an average price of $2.59 / sq.feet followed by "Condo" priced at $129 / sq.feet. "Condo" is the most expensive type of property with a $129 / sq.feet value followed by "House" with an average price of $2.59 / sq.feet.