The rent prices in real estate in Madison, in the Wisconsin 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 Madison has risen strongly during the last 6 months. In August, the average price per sq.feet was $1.69. In September this price barely changed remaining at $1.77 per sq.feet. In the following two months the price per sq.feet has risen 105 %, going from $1.73 to $1.83 per sq.feet. The price per sq.feet has had a considerable rise of 132 % 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 $1.78 to $2.34 during December, and January.
When referring to the price in Madison (cities), there have hardly been any changes in the last 6 months. In our first sample month during August, the average price is $1,619. In September This price remains at $1,578. In the following two months the average price has hardly changed with regard to the previous two months from $1,598.5 to $1,581. Based on an analysis of the first four prices and the last two months the average price has increased 115 % during the last two months.
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 $1,750 they are 6 % more affordable than the average price for Madison . The properties with the highest average price have 4 bedrooms, Their price is 89 % more expensive than the average. After that we have properties with 3 bedrooms priced at $2,274.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $1.56 / sq.feet, with an average $2.2 / sq.feet price in Madison. The properties with the most expensive average prices have 1 bedroom. They are 8 % more expensive than the average followed by properties with 4 bedrooms with a price at $2.3 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $1,750 it is 56 % more affordable than the average price in Madison. "House" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "Office". At a price of $1,867 it is 20 % 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 $1.49 / sq.feet followed by "House" priced at $2.3 / sq.feet. "Office" is the most expensive type of property with a $2.41 / sq.feet value followed by "House" with an average price of $2.3 / sq.feet.