The rent prices in real estate in Merritt Island, in the Florida region have slightly risen in the last couple of months. There has been a rise in the rent prices in this city.
The price per sq.feet in Merritt Island has risen during the last 6 months. In January, the average price per sq.feet was $1.58. In the following month the price per sq.feet fell to $1.5. In the following two months the price per sq.feet has risen 109 %, going from $1.54 to $1.67 per sq.feet. The price per sq.feet has risen 108 % 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 $1.61 to $1.74 during May, and June.
When referring to the price in Merritt Island (cities), this has risen in the last 6 months. The average price for January is $2,322. During February the price had a slight fall till $2,061. During the following two months (March, April) the price has had an average rise from $2,191.5 to $2,424.5. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 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 $2,456 they are 39 % more affordable than the average price for Merritt Island . The properties with the highest average price have 4 bedrooms, Their price is 18 % more expensive than the average. After that we have properties with 3 bedrooms priced at $2,520.
With regard to the average price per sq.feet, those properties with 2 bedrooms are the most affordable ones at a cost of $1 / sq.feet, with an average $1.63 / sq.feet price in Merritt Island. The properties with the most expensive average prices have 1 bedroom. They are 23 % more expensive than the average followed by properties with 2 bedrooms with a price at $1 / sq.feet.
The graph displaying the average rent prices displays the property type "Townhouse" as the most affordable one. At an cost of $2,456 it is 35 % more affordable than the average price in Merritt Island. "Commercial" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Condo". At a price of $2,091 it is 8 % 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 $1 / sq.feet followed by "Townhouse" priced at $5 / sq.feet. "Commercial" is the most expensive type of property with a $6 / sq.feet value followed by "Townhouse" with an average price of $5 / sq.feet.