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 July, the average price per sq.feet was $90.6. In the following month the price per sq.feet rose considerably to $160.39. The price for the following two months in (September, October) had a considerable fall of 34 with regard to the previous two months. The price per sq.feet has had a considerable fall of 8 % 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 $84.16 to $6.59 during November, and December.
When referring to the price in Montclair (cities), there have hardly been any changes in the last 6 months. In our first sample month during July, the average price is $2,294. In August This price remains at $2,335. In the following two months the average price has hardly changed with regard to the previous two months from $2,314.5 to $2,257.5. 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 $2,286 and $2,217.5 between November and December.
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 $2,071 they are 11 % more affordable than the average price for Montclair . The properties with the highest average price have 3 bedrooms, Their price is 22 % more expensive than the average. After that we have properties with 2 bedrooms priced at $2,475.
With regard to the average price per sq.feet, those properties with 1 bedroom are the most expensive ones at a cost of $2.71 / sq.feet, with an average $2.67 / sq.feet price in Montclair. The properties with the most expensive average prices have 3 bedrooms. They are 2698 % more expensive than the average followed by properties with 2 bedrooms with a price at $4.33 / sq.feet.
The graph displaying the average rent prices displays the property type "Townhouse" as the most expensive one. At an cost of $2,071 it is 17 % more expensive than the average price in Montclair. "" is seen as the second most expensive property type. The most expensive property type is "" followed by "Townhouse". At a price of $2,423 it is 17 % more expensive than the average price.
According to the average area price by sq.feet the most expensive property type is "Townhouse with an average cost of $743 / sq.feet. "Townhouse" at an average price of $743 / sq.feet has the highest price and would be directed at more affluent cities.