The rent prices in real estate in Jersey City, 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 Jersey City has had a strong fall during the last 6 months. In May, the average price per sq.feet was $59.62. In the following month the price per sq.feet fell considerably to $27.44. The price for the following two months in (July, August) had a considerable fall of 68 with regard to the previous two months. The price per sq.feet has had a considerable fall of 50 % 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 $36.63 to $18.43 during September, and October.
When referring to the price in Jersey City (cities), this has fallen in the last 6 months. The average price for May is $3,446. During June the price had a slight fall till $3,089. In the following two months the average price has hardly changed with regard to the previous two months from $3,267.5 to $3,215. 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 $3,241.25 and $3,193 between September and October.
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 $3,464 they are 20 % more affordable than the average price for Jersey City . The properties with the highest average price have 2 bedrooms, Their price is 4 % more expensive than the average. After that we have properties with 1 bedroom priced at $3,205.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $8.46 / sq.feet, with an average $32.12 / sq.feet price in Jersey City. The properties with the most expensive average prices have 1 bedroom. They are 26 % more expensive than the average followed by properties with 4 bedrooms with a price at $27.59 / sq.feet.
The graph displaying the average rent prices displays the property type "Office" as the most affordable one. At an cost of $3,464 it is 33 % more affordable than the average price in Jersey City. "House" is seen as the second most affordable property type. The most affordable property is "Condo" followed by "". At a price of $2,965 it is 1 % 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 $10.77 / sq.feet followed by "Office" priced at $21 / sq.feet. "Condo" is the most expensive type of property with a $53.47 / sq.feet value followed by "Office" with an average price of $21 / sq.feet.