The rent prices in real estate in Los Angeles, in the California 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 Los Angeles has had a strong fall during the last 6 months. In October, the average price per sq.feet was $13.32. In the following month the price per sq.feet fell considerably to $10.95. The price for the following two months in (December, January) fell 87 % with regard to the previous two months. The price per sq.feet has had a considerable fall of 37 % 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 $11.35 to $4.2 during February, and March.
When referring to the price in Los Angeles (cities), there have hardly been any changes in the last 6 months. The average price for October is $2,781. During November the price had a slight fall till $2,550. During the following two months (December, January) the price has had an average rise from $2,665.5 to $2,839.5. 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 $2,752.5 and $2,718.5 between February and March.
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 $2,622 they are 6 % more affordable than the average price for Los Angeles . The properties with the highest average price have 4 bedrooms, Their price is 94 % more expensive than the average. After that we have properties with 3 bedrooms priced at $4,521.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $3.01 / sq.feet, with an average $3.42 / sq.feet price in Los Angeles. The properties with the most affordable average prices have 1 bedroom. They are 2 % more affordable than the average followed by properties with 3 bedrooms with a price at $3.16 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $2,622 it is 1 % more affordable than the average price in Los Angeles. "Duplex" is seen as the second most affordable property type. The most expensive property type is "Villa" followed by "Condo". At a price of $3,660 it is 51 % 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 $3.07 / sq.feet followed by "House" priced at $3.39 / sq.feet. "Villa" is the most expensive type of property with a $142.75 / sq.feet value followed by "Apartment" with an average price of $91.63 / sq.feet.