Property prices for rent in Long Island City (New York)
The rent prices in real estate in Long Island City, in the New York 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 Long Island City has had a strong fall during the last 6 months. In March, the average price per sq.feet was $99.7. In the following month the price per sq.feet rose to $110.38. The price for the following two months in (May, June) had a considerable fall of 20 with regard to the previous two months. The price per sq.feet has had a considerable fall of 13 % 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 $63.25 to $8.23 during July, and August.
When referring to the price in Long Island City (cities), this has risen considerably in the last 6 months. In our first sample month during March, the average price is $3,350. In April This price remains at $3,399. During the following two months (May, June) the average price had a considerable rise of 120 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 115 % during the last two months.
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 $4,303 they are 20 % more affordable than the average price for Long Island City . The properties with the highest average price have 2 bedrooms, Their price is 10 % more expensive than the average. After that we have properties with 4 bedrooms priced at $4,126.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $3.7 / sq.feet, with an average $6.49 / sq.feet price in Long Island City. The properties with the most expensive average prices have 1 bedroom. They are 33 % more expensive than the average followed by properties with 2 bedrooms with a price at $5.37 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $4,303 it is 54 % more affordable than the average price in Long Island City. "Condo" is seen as the second most affordable property type. The most affordable property is "House" followed by "Condo". At a price of $3,856 it is 3 % more affordable than the average price.
According to the average cost per sq.feet, the most affordable property is "Condo" at an average price of $4.96 / sq.feet followed by "House" priced at $6.69 / sq.feet. "House" is the most expensive type of property with a $6.69 / sq.feet value followed by "Condo" with an average price of $4.96 / sq.feet.
