Property prices for rent in Lowell (Massachusetts)
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.
