The rent prices in real estate in Lansing, in the Michigan 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 Lansing has had a strong fall during the last 6 months. In September, the average price per sq.feet was $1.44. In the following month the price per sq.feet fell to $1.28. The price for the following two months in (November, December) fell 90 % with regard to the previous two months. The price per sq.feet has fallen 91 % 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 $1.29 to $1.17 during January, and February.
When referring to the price in Lansing (cities), there have hardly been any changes in the last 6 months. In our first sample month during September, the average price is $1,122. In October This price remains at $1,094. In the following two months the average price has hardly changed with regard to the previous two months from $1,108 to $1,108.5. 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 $1,108.25 and $1,135 between 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 $1,151 they are 15 % more affordable than the average price for Lansing . The properties with the highest average price have 4 bedrooms, Their price is 37 % more expensive than the average. After that we have properties with 3 bedrooms priced at $1,323.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $1.08 / sq.feet, with an average $1.2 / sq.feet price in Lansing. The properties with the most expensive average prices have 1 bedroom. They are 19 % more expensive than the average followed by properties with 2 bedrooms with a price at $1.21 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $1,151 it is 26 % more affordable than the average price in Lansing. "Land" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Condo". At a price of $1,086 it is 2 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Condo" at an average price of $0.95 / sq.feet followed by "Land" priced at $1 / sq.feet. "House" is the most expensive type of property with a $1.29 / sq.feet value followed by "Land" with an average price of $1 / sq.feet.