The rent prices in real estate in Long Island City, in the New York 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 Long Island City has risen strongly during the last 6 months. In March, the average price per sq.feet was $60.37. In the following month the price per sq.feet rose to $68.71. The price for the following two months in (May, June) had a considerable fall of 47 with regard to the previous two months. The price per sq.feet has had a considerable rise of 357 % 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 $47.56 to $169.66 during July, and August.
When referring to the price in Long Island City (cities), this has fallen considerably in the last 6 months. The average price for March is $3,773. During April the price had a slight fall till $3,490. During the following two months (May, June) the average price had a considerable fall of 80 % with regard to the previous two months. 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 $3,267.75 and $3,149.5 between July and August.
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 $3,048 they are 6 % more affordable than the average price for Long Island City . The properties with the highest average price have 4 bedrooms, Their price is 47 % more expensive than the average. After that we have properties with 2 bedrooms priced at $3,977.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $23 / sq.feet, with an average $174.56 / sq.feet price in Long Island City. The properties with the most affordable average prices have 2 bedrooms. They are 8 % more affordable than the average followed by properties with 1 bedroom with a price at $112.63 / sq.feet.
The graph displaying the average rent prices displays the property type "Apartment" as the most expensive one. At an cost of $3,048 it is 2 % more expensive than the average price in Long Island City. "House" is seen as the second most expensive property type. The most expensive property type is "" followed by "House". At a price of $3,148 it is 11 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "House" at an average price of $4 / sq.feet followed by "Apartment" priced at $119 / sq.feet. "Apartment" is the most affordable type of property with a $119 / sq.feet value followed by "House" with an average price of $4 / sq.feet.