The rent prices in real estate in Elmhurst, in the New York 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 Elmhurst has had a strong fall during the last 6 months. In March, the average price per sq.feet was $103.2. In April this price barely changed remaining at $106.86 per sq.feet. The price for the following two months in (May, June) had a considerable fall of 20 with regard to the previous two months. The price per sq.feet has had a considerable fall of 23 % 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 $63.14 to $14.35 during July, and August.
When referring to the price in Elmhurst (cities), this has risen in the last 6 months. In our first sample month during March, the average price is $2,154. In April This price remains at $2,143. During the following two months (May, June) the price has had an average rise from $2,148.5 to $2,269. Based on an analysis of the first four prices and the last two months the average price has increased 113 % during the last two months.
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 $2,495 they are 33 % more affordable than the average price for Elmhurst . The properties with the highest average price have 3 bedrooms, Their price is 7 % more expensive than the average. After that we have properties with 4 bedrooms priced at $2,517.
With regard to the average price per sq.feet, those properties with 1 bedroom are the most affordable ones at a cost of $2.12 / sq.feet, with an average $2.78 / sq.feet price in Elmhurst. The properties with the most expensive average prices have 4 bedrooms. They are 4145 % more expensive than the average followed by properties with 3 bedrooms with a price at $17.34 / sq.feet.
The graph displaying the average rent prices displays the property type "Condo" as the most affordable one. At an cost of $2,495 it is 13 % more affordable than the average price in Elmhurst. "Land" is seen as the second most affordable property type. The most affordable property is "House" followed by "Commercial". At a price of $2,200 it is 9 % 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 / sq.feet followed by "Land" priced at $19 / sq.feet. "Condo" is the most expensive type of property with a $137 / sq.feet value followed by "Commercial" with an average price of $24 / sq.feet.