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 October, the average price per sq.feet was $56.73. In the following month the price per sq.feet rose considerably to $149.79. The price for the following two months in (December, January) had a considerable rise of 143 %. The price per sq.feet has had a considerable fall of 61 % 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 $125.69 to $76.46 during February, and March.
When referring to the price in Long Island City (cities), this has fallen in the last 6 months. The average price for October is $3,621. During November the price had a slight fall till $3,247. In the following two months the average price has hardly changed with regard to the previous two months from $3,434 to $3,280. Based on an analysis of the first four prices and the last two months the average price has increased 107 % 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 $3,773 they are 7 % more affordable than the average price for Long Island City . The properties with the highest average price have 3 bedrooms, Their price is 41 % more expensive than the average. After that we have properties with 2 bedrooms priced at $4,743.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $28 / sq.feet, with an average $60.37 / sq.feet price in Long Island City. The properties with the most expensive average prices have 2 bedrooms. They are 42 % more expensive than the average followed by properties with 1 bedroom with a price at $63.78 / sq.feet.
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of $3,773 it is 17 % more affordable than the average price in Long Island City. "House" is seen as the second most affordable property type. The most affordable property is "Detached House" followed by "House". At a price of $3,168 it is 10 % more affordable than the average price.
According to the average cost per sq.feet, the most affordable property is "Detached House" at an average price of $5 / sq.feet followed by "House" priced at $9 / sq.feet. "Apartment" is the most expensive type of property with a $124 / sq.feet value followed by "House" with an average price of $9 / sq.feet.