Property prices for rent in Franklin Lakes (New Jersey)
The rent prices in real estate in Franklin Lakes, in the New Jersey 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 Franklin Lakes has risen strongly during the last 6 months. In October, the average price per sq.feet was $3.62. In the following month the price per sq.feet fell to $3.4. In the following two months the price per sq.feet has practically remained the same, going from $3.51 to $3.58 per sq.feet. The price per sq.feet has had a considerable rise of 9934 % 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 $3.54 to $351.92 during February, and March.
When referring to the price in Franklin Lakes (cities), there have hardly been any changes in the last 6 months. The average price for October is $4,324. During November the price had a slight fall till $3,906. In the following two months the average price has hardly changed with regard to the previous two months from $4,115 to $4,026. Based on an analysis of the first four prices and the last two months the average price has increased 109 % during the last two months.
The graph displaying the average rent price for bedrooms illustrates that those properties with 3 bedrooms are the most affordable ones. At a price of $4,887 they are 45 % more affordable than the average price for Franklin Lakes . The properties with the lowest average price have 2 bedrooms, Their price is 16 % more affordable than the average. After that we have properties with 1 bedroom priced at $3,196.
With regard to the average prices per sq.feet those properties with 1 bedroom are 99 % more affordable than the average price of ($3 / sq.feet) in Franklin Lakes. Properties with the most affordable price when referring to the number of bedrooms / sq.feet are those with 1 bedroom. They are 99 % more affordable than the average value aforementioned.
According to average price per property type in Franklin Lakes, "" priced at $2,704 is 45 % lower than the average price ($4,887) in this city.
