The rent prices in real estate in Montauk, in the New York 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 Montauk has risen strongly during the last 6 months. In April, the average price per sq.feet was $8. In the following month the price per sq.feet rose considerably to $145.29. The price for the following two months in (June, July) had a considerable rise of 139 %. The price per sq.feet has had a considerable fall of 15 % 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 $91.77 to $14.18 during August, and September.
When referring to the price in Montauk (cities), this has risen considerably in the last 6 months. The average price during our first sample month during April, is $19,397. During May the price went through a considerable rise reaching $26,350. During the following two months (June, July) the average price had a considerable rise of 127 % 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 increased 114 % 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 $23,967 they are 39 % more affordable than the average price for Montauk . The properties with the highest average price have 4 bedrooms, Their price is 27 % more expensive than the average. After that we have properties with 3 bedrooms priced at $22,408.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most expensive ones at a cost of $21 / sq.feet, with an average $11.28 / sq.feet price in Montauk. The properties with the most expensive average prices have 2 bedrooms. They are 450 % more expensive than the average followed by properties with 1 bedroom with a price at $41 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $23,967 it is 4 % more affordable than the average price in Montauk. "Commercial" is seen as the second most affordable property type. The most expensive property type is "Apartment" followed by "Land". At a price of $33,701 it is 91 % more expensive than the average price.
According to the average cost per sq.feet, the least affordable property would be "Apartment" at an average price of $13 / sq.feet followed by "Land" priced at $62 / sq.feet. "House" is the most expensive type of property with a $129 / sq.feet value followed by "Commercial" with an average price of $106 / sq.feet.