The rent prices in real estate in Menlo Park, in the California 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 Menlo Park has risen strongly during the last 6 months. In December, the average price per sq.feet was $7.98. In the following month the price per sq.feet rose considerably to $34.21. The price for the following two months in (February, March) had a considerable fall of 76 with regard to the previous two months. The price per sq.feet has had a considerable fall of 25 % 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 $18.58 to $4.58 during April, and May.
When referring to the price in Menlo Park (cities), this has fallen considerably in the last 6 months. In our first sample month during December, the average price is $5,422. In January This price remains at $5,165. During the following two months (February, March) the average price had a considerable fall of 82 % with regard to the previous two months. During the last two months the average price has fallen greatly compared to the previous four going from $4,821 to $4,056.5, which means a 84 % fall.
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 $3,866 they are 33 % more affordable than the average price for Menlo Park . The properties with the highest average price have 4 bedrooms, Their price is 126 % more expensive than the average. After that we have properties with 3 bedrooms priced at $5,862.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $3.7 / sq.feet, with an average $4.26 / sq.feet price in Menlo Park. The properties with the most expensive average prices have 3 bedrooms. They are 23 % more expensive than the average followed by properties with 2 bedrooms with a price at $4.74 / sq.feet.
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of $3,866 it is 10 % more affordable than the average price in Menlo Park. "Detached House" is seen as the second most affordable property type. The most expensive property type is "House" followed by "". At a price of $4,500 it is 55 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "House" at an average price of $3.49 / sq.feet followed by "Apartment" priced at $4.39 / sq.feet. "Detached House" is the most expensive type of property with a $85 / sq.feet value followed by "Apartment" with an average price of $4.39 / sq.feet.