The rent prices in real estate in Lowell, in the Massachusetts region have slightly fallen in the last couple of months. There has been a fall in the rent prices in this city.
The price per sq.feet in Lowell has fallen during the last 6 months. In August, the average price per sq.feet was $2.08. In the following month the price per sq.feet fell to $1.96. The price for the following two months in (October, November) fell 94 % with regard to the previous two months. The price per sq.feet has fallen 95 % 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 $1.96 to $1.86 during December, and January.
When referring to the price in Lowell (cities), there have hardly been any changes in the last 6 months. In our first sample month during August, the average price is $1,678. In September This price remains at $1,716. In the following two months the average price has hardly changed with regard to the previous two months from $1,697 to $1,648.5. 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 $1,672.75 and $1,726.5 between December and January.
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 $1,699 they are 15 % more affordable than the average price for Lowell . The properties with the highest average price have 4 bedrooms, Their price is 50 % more expensive than the average. After that we have properties with 3 bedrooms priced at $2,041.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $1.66 / sq.feet, with an average $1.88 / sq.feet price in Lowell. The properties with the most expensive average prices have 1 bedroom. They are 18 % more expensive than the average followed by properties with 2 bedrooms with a price at $1.83 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $1,699 it is 13 % more affordable than the average price in Lowell. "House" is seen as the second most affordable property type. The most affordable property is "Condo" followed by "House". At a price of $1,629 it is 3 % more affordable than the average price.
According to the average cost per sq.feet, the most affordable property is "Condo" at an average price of $1.88 / sq.feet followed by "House" priced at $2.04 / sq.feet. "House" is the most expensive type of property with a $2.04 / sq.feet value followed by "Condo" with an average price of $1.88 / sq.feet.