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 February, the average price per sq.feet was $3.58. In the following month the price per sq.feet rose considerably to $15.52. In the following two months the price per sq.feet has risen 112 %, going from $9.55 to $10.68 per sq.feet. The price per sq.feet has had a considerable fall of 75 % 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 $10.11 to $7.55 during June, and July.
When referring to the price in Los Angeles (cities), this has fallen in the last 6 months. In our first sample month during February, the average price is $3,038. In March This price remains at $3,155. During the following two months (April, May) the average price fell 91 % 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 91 %, going from $2,951.25 to $2,698.5 in June and July.
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 $2,801 they are 13 % more affordable than the average price for Los Angeles . The properties with the highest average price have 4 bedrooms, Their price is 181 % more expensive than the average. After that we have properties with 3 bedrooms priced at $4,040.
With regard to the average price per sq.feet, those properties with 1 bedroom are the most affordable ones at a cost of $5.59 / sq.feet, with an average $8.38 / sq.feet price in Los Angeles. The properties with the most expensive average prices have 2 bedrooms. They are 40 % more expensive than the average followed by properties with 4 bedrooms with a price at $9.73 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $2,801 it is 4 % more affordable than the average price in Los Angeles. "Office" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "Apartment". At a price of $3,488 it is 34 % more expensive than the average price.
According to the average cost per sq.feet, the least affordable property would be "Condo" at an average price of $10.3 / sq.feet followed by "House" priced at $10.81 / sq.feet. "Land" is the most expensive type of property with a $39 / sq.feet value followed by "Office" with an average price of $18 / sq.feet.