The rent prices in real estate in Fairbanks, in the Alaska 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 Fairbanks has risen strongly during the last 6 months. In February, the average price per sq.feet was $1.25. In March this price barely changed remaining at $1.28 per sq.feet. The price for the following two months in (April, May) had a considerable rise of 117 %. The price per sq.feet has had a considerable rise of 164 % 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 $1.37 to $2.25 during June, and July.
When referring to the price in Fairbanks (cities), this has risen in the last 6 months. In our first sample month during February, the average price is $1,275. In March This price remains at $1,291. In the following two months the average price has hardly changed with regard to the previous two months from $1,283 to $1,299. Based on an analysis of the first four prices and the last two months the average price has increased 114 % 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 $1,487 they are 30 % more affordable than the average price for Fairbanks . The properties with the highest average price have 3 bedrooms, Their price is 29 % more expensive than the average. After that we have properties with 4 bedrooms priced at $1,748.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $1 / sq.feet, with an average $2.77 / sq.feet price in Fairbanks. The properties with the most expensive average prices have 3 bedrooms. They are 25 % more expensive than the average followed by properties with 2 bedrooms with a price at $3.41 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $1,487 it is 22 % more affordable than the average price in Fairbanks. "Land" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "Apartment". At a price of $1,424 it is 26 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "House" at an average price of $1 / sq.feet followed by "Apartment" priced at $22 / sq.feet. "Apartment" is the most expensive type of property with a $22 / sq.feet value followed by "House" with an average price of $1 / sq.feet.