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 December, the average price per sq.feet was $73.98. In the following month the price per sq.feet fell considerably to $62.58. The price for the following two months in (February, March) had a considerable rise of 183 %. The price per sq.feet has risen 113 % 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 $96.78 to $109.68 during April, and May.
When referring to the price in Long Island City (cities), there have hardly been any changes in the last 6 months. In our first sample month during December, the average price is $2,707. In January This price remains at $2,670. In the following two months the average price has hardly changed with regard to the previous two months from $2,688.5 to $2,735. 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 $2,711.75 and $2,727 between April and May.
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 $2,816 they are 4 % more affordable than the average price for Long Island City . The properties with the highest average price have 4 bedrooms, Their price is 103 % more expensive than the average. After that we have properties with 3 bedrooms priced at $4,381.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $21 / sq.feet, with an average $102.85 / sq.feet price in Long Island City. The properties with the most expensive average prices have 2 bedrooms. They are 54 % more expensive than the average followed by properties with 3 bedrooms with a price at $139.68 / sq.feet.
The graph displaying the average rent prices displays the property type "Townhouse" as the most affordable one. At an cost of $2,816 it is 29 % more affordable than the average price in Long Island City. "House" is seen as the second most affordable property type. The most expensive property type is "" followed by "Condo". At a price of $3,225 it is 67 % 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 $3 / sq.feet followed by "Townhouse" priced at $11 / sq.feet. "House" is the most affordable type of property with a $83 / sq.feet value followed by "Townhouse" with an average price of $11 / sq.feet.