The rent prices in real estate in Lorain, in the Ohio 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 Lorain has had a strong fall during the last 6 months. In July, the average price per sq.feet was $4.63. In the following month the price per sq.feet fell considerably to $0.71. The price for the following two months in (September, October) had a considerable fall of 41 with regard to the previous two months. The price per sq.feet has had a considerable rise of 122 % 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 $1.88 to $2.3 during November, and December.
When referring to the price in Lorain (cities), there have hardly been any changes in the last 6 months. In our first sample month during July, the average price is $681. In August This price remains at $674. In the following two months the average price has hardly changed with regard to the previous two months from $677.5 to $653.5. 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 $665.5 and $643.5 between November and December.
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 $634 they are 17 % more affordable than the average price for Lorain . The properties with the highest average price have 4 bedrooms, Their price is 24 % more expensive than the average. After that we have properties with 3 bedrooms priced at $693.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $0.54 / sq.feet, with an average $3.78 / sq.feet price in Lorain. The properties with the most expensive average prices have 3 bedrooms. They are 102 % more expensive than the average followed by properties with 2 bedrooms with a price at $4.61 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $634 it is 9 % more affordable than the average price in Lorain. "Apartment" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Villa". At a price of $685 it is 26 % 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 $0.66 / sq.feet followed by "Apartment" priced at $1.97 / sq.feet. "Villa" is the most expensive type of property with a $21 / sq.feet value followed by "Apartment" with an average price of $1.97 / sq.feet.