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 November, the average price per sq.feet was $3.11. In the following month the price per sq.feet fell considerably to $2.32. The price for the following two months in (January, February) had a considerable rise of 125 %. The price per sq.feet has had a considerable rise of 310 % 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 $3.06 to $9.48 during March, and April.
When referring to the price in Miami (cities), there have hardly been any changes in the last 6 months. The average price for November is $2,392. During December the price had a slight fall till $2,080. In the following two months the average price has hardly changed with regard to the previous two months from $2,236 to $2,274. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 121 % 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 $3,008 they are 37 % more affordable than the average price for Miami . The properties with the highest average price have 4 bedrooms, Their price is 92 % more expensive than the average. After that we have properties with 3 bedrooms priced at $3,013.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $2.19 / sq.feet, with an average $5.09 / sq.feet price in Miami. The properties with the most affordable average prices have 1 bedroom. They are 46 % more affordable than the average followed by properties with 2 bedrooms with a price at $2.37 / sq.feet.
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of $3,008 it is 42 % more affordable than the average price in Miami. "Condo" is seen as the second most affordable property type. The most expensive property type is "Land" followed by "House". At a price of $2,873 it is 40 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Apartment" at an average price of $2 / sq.feet followed by "Condo" priced at $2.54 / sq.feet. "Land" is the most expensive type of property with a $27.07 / sq.feet value followed by "Townhouse" with an average price of $22.46 / sq.feet.