The rent prices in real estate in Medford, in the Massachusetts 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 Medford has had a strong fall during the last 6 months. In May, the average price per sq.feet was $9.79. In the following month the price per sq.feet rose to $11.2. The price for the following two months in (July, August) had a considerable fall of 25 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 $6.56 to $2.42 during September, and October.
When referring to the price in Medford (cities), this has fallen in the last 6 months. In our first sample month during May, the average price is $2,842. In June This price remains at $2,744. During the following two months (July, August) the average price fell 93 % 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 89 %, going from $2,699 to $2,409.5 in September and October.
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 $2,376 they are 12 % more affordable than the average price for Medford . The properties with the highest average price have 4 bedrooms, Their price is 38 % more expensive than the average. After that we have properties with 3 bedrooms priced at $2,523.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $1.9 / sq.feet, with an average $2.26 / sq.feet price in Medford. The properties with the most expensive average prices have 1 bedroom. They are 19 % more expensive than the average followed by properties with 4 bedrooms with a price at $2.09 / sq.feet.
The graph displaying the average rent prices displays the property type "Condo" as the most affordable one. At an cost of $2,376 it is 9 % more affordable than the average price in Medford. "House" is seen as the second most affordable property type. The most expensive property type is "" followed by "Townhouse". At a price of $2,417 it is 10 % 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 $1.97 / sq.feet followed by "House" priced at $2.19 / sq.feet. "House" is the most affordable type of property with a $2.19 / sq.feet value followed by "Condo" with an average price of $1.97 / sq.feet.