The rent prices in real estate in Montclair, in the New Jersey 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 Montclair has risen strongly during the last 6 months. In December, the average price per sq.feet was $2.67. In the following month the price per sq.feet fell to $2.52. The price for the following two months in (February, March) had a considerable rise of 271 %. 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 $4.81 to $2.86 during April, and May.
When referring to the price in Montclair (cities), this has risen in the last 6 months. In our first sample month during December, the average price is $2,071. In January This price remains at $2,104. During the following two months (February, March) the price has had an average rise from $2,087.5 to $2,212.5. Based on an analysis of the first four prices and the last two months the average price has increased 109 % 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 $2,268 they are 8 % more affordable than the average price for Montclair . The properties with the highest average price have 4 bedrooms, Their price is 98 % more expensive than the average. After that we have properties with 3 bedrooms priced at $3,611.
With regard to the average price per sq.feet, those properties with 2 bedrooms are the most affordable ones at a cost of $2.36 / sq.feet, with an average $2.81 / sq.feet price in Montclair. The properties with the most expensive average prices have 4 bedrooms. They are 3459 % more expensive than the average followed by properties with 1 bedroom with a price at $3.03 / sq.feet.
The graph displaying the average rent prices displays the property type "Condo" as the most affordable one. At an cost of $2,268 it is 0 % more affordable than the average price in Montclair. "House" is seen as the second most affordable property type. The most expensive property type is "Townhouse" followed by "". At a price of $2,397 it is 6 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "House" at an average price of $2 / sq.feet followed by "Condo" priced at $331 / sq.feet. "Townhouse" is the most expensive type of property with a $738 / sq.feet value followed by "Condo" with an average price of $331 / sq.feet.