The rent prices in real estate in Miami, in the Florida 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 Miami has risen strongly during the last 6 months. In March, the average price per sq.feet was $4.13. In the following month the price per sq.feet rose considerably to $11.83. The price for the following two months in (May, June) had a considerable rise of 128 %. The price per sq.feet has had a considerable rise of 190 % 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 $9.1 to $17.28 during July, and August.
When referring to the price in Miami (cities), this has fallen in the last 6 months. In our first sample month during March, the average price is $4,111. In April This price remains at $3,928. In the following two months the average price has hardly changed with regard to the previous two months from $4,019.5 to $4,127. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 88 %, going from $4,073.25 to $3,591.5 in July and August.
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 $3,695 they are 27 % more affordable than the average price for Miami . The properties with the highest average price have 4 bedrooms, Their price is 53 % more expensive than the average. After that we have properties with 3 bedrooms priced at $4,487.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $2.64 / sq.feet, with an average $21.82 / sq.feet price in Miami. The properties with the most affordable average prices have 1 bedroom. They are 84 % more affordable than the average followed by properties with 2 bedrooms with a price at $3.23 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $3,695 it is 21 % more affordable than the average price in Miami. "Land" is seen as the second most affordable property type. The most expensive property type is "Villa" followed by "Townhouse". At a price of $4,464 it is 31 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Townhouse" at an average price of $2.64 / sq.feet followed by "House" priced at $3.26 / sq.feet. "Condo" is the most expensive type of property with a $42.59 / sq.feet value followed by "Villa" with an average price of $30.27 / sq.feet.