The rent prices in real estate in Montclair, in the New Jersey 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 Montclair has had a strong fall during the last 6 months. In April, the average price per sq.feet was $19.76. In May this price barely changed remaining at $20.68 per sq.feet. In the following two months the price per sq.feet has risen 109 %, going from $20.22 to $22.05 per sq.feet. The price per sq.feet has had a considerable fall of 13 % 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 $21.13 to $2.81 during August, and September.
When referring to the price in Montclair (cities), this has risen in the last 6 months. The rent price in April is $2,201, rising in May till $2,439. During the following two months (June, July) the price has had an average rise from $2,320 to $2,515. During the last two months, the average price has barely gone through any changes with regard to the previous average values going from an average value of $2,417.5 and $2,411 between August and September.
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 $2,264 they are 8 % more affordable than the average price for Montclair . The properties with the highest average price have 2 bedrooms, Their price is 14 % more expensive than the average. After that we have properties with 3 bedrooms priced at $2,546.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $1 / sq.feet, with an average $2.63 / sq.feet price in Montclair. The properties with the most expensive average prices have 3 bedrooms. They are 50 % more expensive than the average followed by properties with 1 bedroom with a price at $2.82 / sq.feet.
With regard to the average price based upon the property in Montclair we can see that the least affordable property type is "House" at a price of $2,457, they are 9 % more expensive than the average price of (!PRECIO2!). "House" has the most expensive price. This price is 9 % more expensive than the average price aforementioned.
According to the average area price by sq.feet the most affordable property type is "House with an average cost of $1 / sq.feet. "House" with an average price of $1 / sq.feet has the most affordable price and would be directed at less affluent cities.