The rent prices in real estate in Gallup, in the New Mexico 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 Gallup has risen strongly during the last 6 months. In September, the average price per sq.feet was $0.88. In the following month the price per sq.feet rose considerably to $139.67. The price for the following two months in (November, December) had a considerable fall of 1 with regard to the previous two months. The price per sq.feet has had a considerable fall of 3 % 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 $35.61 to $1.01 during January, and February.
When referring to the price in Gallup (cities), this has risen in the last 6 months. The average price during our first sample month during September, is $951. During October the price went through a considerable rise reaching $1,318. During the following two months (November, December) the average price fell 85 % with regard to the previous two months. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 90 %, going from $1,049.75 to $948 in January and February.
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 $912 they are 13 % more affordable than the average price for Gallup . The properties with the highest average price have 3 bedrooms, Their price is 22 % more expensive than the average. After that we have properties with 2 bedrooms priced at $943.
With regard to the average price per sq.feet, those properties with 2 bedrooms are the most affordable ones at a cost of $0.91 / sq.feet, with an average $1.02 / sq.feet price in Gallup. The properties with the most expensive average prices have 1 bedroom. They are 2 % more expensive than the average followed by properties with 3 bedrooms with a price at $1 / sq.feet.
According to average price per property type in Gallup, "" priced at $866 is 5 % lower than the average price ($912) in this city.