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 February, the average price per sq.feet was $31.66. In the following month the price per sq.feet fell considerably to $2.71. The price for the following two months in (April, May) had a considerable fall of 16 with regard to the previous two months. The price per sq.feet has fallen 87 % 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 $10.01 to $8.73 during June, and July.
When referring to the price in Jersey City (cities), this has fallen in the last 6 months. The average price for February is $2,656. During March the price had a slight fall till $2,473. During the following two months (April, May) the average price fell 92 % 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 89 %, going from $2,460.25 to $2,185.5 in June and July.
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 $2,292 they are 7 % more affordable than the average price for Jersey City . The properties with the highest average price have 2 bedrooms, Their price is 5 % more expensive than the average. After that we have properties with 4 bedrooms priced at $2,315.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $1.67 / sq.feet, with an average $14.92 / sq.feet price in Jersey City. The properties with the most affordable average prices have 3 bedrooms. They are 0 % more affordable than the average followed by properties with 1 bedroom with a price at $7.82 / sq.feet.
The graph displaying the average rent prices displays the property type "Condo" as the most affordable one. At an cost of $2,292 it is 2 % more affordable than the average price in Jersey City. "House" is seen as the second most affordable property type. The most expensive property type is "" followed by "Townhouse". At a price of $2,824 it is 28 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Townhouse" at an average price of $3.09 / sq.feet followed by "Condo" priced at $10.26 / sq.feet. "House" is the most expensive type of property with a $53.68 / sq.feet value followed by "Condo" with an average price of $10.26 / sq.feet.