The rent prices in real estate in Muncie, in the Indiana 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 Muncie has had a strong fall during the last 6 months. In July, the average price per sq.feet was $4.43. In the following month the price per sq.feet fell considerably to $0.6. The price for the following two months in (September, October) had a considerable fall of 32 with regard to the previous two months. The price per sq.feet has had a considerable fall of 50 % 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 $1.66 to $0.83 during November, and December.
When referring to the price in Muncie (cities), there have hardly been any changes in the last 6 months. The average price for July is $767. During August the price had a considerable fall till $603. During the following two months (September, October) the price has had an average rise from $685 to $742.5. Based on an analysis of the first four prices and the last two months the average price has increased 114 % 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 $791 they are 32 % more affordable than the average price for Muncie . The properties with the highest average price have 4 bedrooms, Their price is 41 % more expensive than the average. After that we have properties with 3 bedrooms priced at $829.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $0.69 / sq.feet, with an average $0.8 / sq.feet price in Muncie. The properties with the most expensive average prices have 1 bedroom. They are 5 % more expensive than the average followed by properties with 2 bedrooms with a price at $0.77 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $791 it is 14 % more affordable than the average price in Muncie. "Apartment" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Apartment". At a price of $687 it is 13 % 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 $0.74 / sq.feet followed by "Apartment" priced at $0.87 / sq.feet. "Apartment" is the most expensive type of property with a $0.87 / sq.feet value followed by "House" with an average price of $0.74 / sq.feet.