The rent prices in real estate in Los Angeles, in the California 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 Los Angeles has risen strongly during the last 6 months. In December, the average price per sq.feet was $3.34. In the following month the price per sq.feet fell to $3.1. The price for the following two months in (February, March) had a considerable rise of 219 %. The price per sq.feet has had a considerable fall of 60 % 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 $5.13 to $3.06 during April, and May.
When referring to the price in Los Angeles (cities), this has fallen considerably in the last 6 months. In our first sample month during December, the average price is $3,228. In January This price remains at $3,148. During the following two months (February, March) the average price had a considerable fall of 82 % with regard to the previous two months. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 92 %, going from $2,901.25 to $2,658 in 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 $2,536 they are 14 % more affordable than the average price for Los Angeles . The properties with the highest average price have 4 bedrooms, Their price is 202 % more expensive than the average. After that we have properties with 3 bedrooms priced at $4,160.
With regard to the average price per sq.feet, those properties with 2 bedrooms are the most affordable ones at a cost of $2.75 / sq.feet, with an average $3.02 / sq.feet price in Los Angeles. The properties with the most expensive average prices have 4 bedrooms. They are 7 % more expensive than the average followed by properties with 1 bedroom with a price at $3.02 / sq.feet.
The graph displaying the average rent prices displays the property type "Villa" as the most affordable one. At an cost of $2,536 it is 11 % more affordable than the average price in Los Angeles. "House" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "Townhouse". At a price of $3,755 it is 69 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Duplex" at an average price of $2.66 / sq.feet followed by "House" priced at $3.03 / sq.feet. "Villa" is the most expensive type of property with a $31.72 / sq.feet value followed by "Townhouse" with an average price of $10.37 / sq.feet.