The rent prices in real estate in Morristown, 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 Morristown has risen strongly during the last 6 months. In January, the average price per sq.feet was $54.68. In the following month the price per sq.feet rose considerably to $63.16. The price for the following two months in (March, April) had a considerable fall of 40 with regard to the previous two months. The price per sq.feet has had a considerable rise of 777 % 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 $41.17 to $319.96 during May, and June.
When referring to the price in Morristown (cities), this has fallen in the last 6 months. The average price for January is $3,533. During February the price had a slight fall till $3,247. In the following two months the average price has hardly changed with regard to the previous two months from $3,390 to $3,260.5. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 91 %, going from $3,325.25 to $3,033.5 in May and June.
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 $3,093 they are 16 % more affordable than the average price for Morristown . The properties with the highest average price have 3 bedrooms, Their price is 57 % more expensive than the average. After that we have properties with 2 bedrooms priced at $3,687.
With regard to the average price per sq.feet, those properties with 1 bedroom are the most affordable ones at a cost of $587.06 / sq.feet, with an average $624.9 / sq.feet price in Morristown. The properties with the most expensive average prices have 3 bedrooms. They are 55 % more expensive than the average followed by properties with 2 bedrooms with a price at $829.04 / sq.feet.
According to average price per property type in Morristown, "" priced at $2,592 is 16 % lower than the average price ($3,093) in this city.