The rent prices in real estate in Merritt Island, in the Florida 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 Merritt Island has had a strong fall during the last 6 months. In December, the average price per sq.feet was $31.76. In the following month the price per sq.feet rose considerably to $46.08. The price for the following two months in (February, March) had a considerable fall of 44 with regard to the previous two months. The price per sq.feet has had a considerable fall of 59 % 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 $27.97 to $16.59 during April, and May.
When referring to the price in Merritt Island (cities), there have hardly been any changes in the last 6 months. In our first sample month during December, the average price is $1,676. In January This price remains at $1,683. During the following two months (February, March) the average price fell 94 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 119 % 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 $2,228 they are 26 % more affordable than the average price for Merritt Island . The properties with the lowest average price have 2 bedrooms, Their price is 25 % more affordable than the average. After that we have properties with 1 bedroom priced at $1,649.
With regard to the average price per sq.feet, those properties with 1 bedroom are the most expensive ones at a cost of $31 / sq.feet, with an average $1.18 / sq.feet price in Merritt Island. The properties with the most expensive average prices have 2 bedrooms. They are 3544 % more expensive than the average followed by properties with 1 bedroom with a price at $31 / sq.feet.
The graph displaying the average rent prices displays the property type "Townhouse" as the most affordable one. At an cost of $2,228 it is 25 % more affordable than the average price in Merritt Island. "House" is seen as the second most affordable property type. The most affordable property is "House" followed by "Townhouse". At a price of $1,662 it is 25 % more affordable than the average price.
According to the average cost per sq.feet, the least affordable property would be "Townhouse" at an average price of $42 / sq.feet followed by "House" priced at $43 / sq.feet. "House" is the most expensive type of property with a $43 / sq.feet value followed by "Townhouse" with an average price of $42 / sq.feet.