The rent prices in real estate in Morris Plains, 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 Morris Plains has risen strongly during the last 6 months. In September, the average price per sq.feet was $2.46. In the following month the price per sq.feet rose considerably to $2.9. In the following two months the price per sq.feet has risen 106 %, going from $2.68 to $2.85 per sq.feet. The price per sq.feet has risen 106 % 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 $2.76 to $2.92 during January, and February.
When referring to the price in Morris Plains (cities), there have hardly been any changes in the last 6 months. In our first sample month during September, the average price is $3,530. In October This price remains at $3,550. In the following two months the average price has hardly changed with regard to the previous two months from $3,540 to $3,466.5. 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 $3,503.25 and $3,457.5 between January and February.
The graph displaying the average rent price for bedrooms illustrates that those properties with 4 bedrooms are the most affordable ones. At a price of $3,454 they are 33 % more affordable than the average price for Morris Plains . The properties with the highest average price have 2 bedrooms, Their price is 6 % more expensive than the average. After that we have properties with 3 bedrooms priced at $3,385.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $1.83 / sq.feet, with an average $2.79 / sq.feet price in Morris Plains. The properties with the most expensive average prices have 1 bedroom. They are 7 % more expensive than the average followed by properties with 2 bedrooms with a price at $2.95 / sq.feet.
According to average price per property type in Morris Plains, "" priced at $2,321 is 33 % lower than the average price ($3,454) in this city.