The rent prices in real estate in New Bedford, in the Massachusetts 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 New Bedford has had a strong fall during the last 6 months. In December, the average price per sq.feet was $1.97. In the following month the price per sq.feet fell considerably to $1.36. The price for the following two months in (February, March) had a considerable fall of 85 with regard to the previous two months. The price per sq.feet has fallen 85 % 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 $1.54 to $1.31 during April, and May.
When referring to the price in New Bedford (cities), there have hardly been any changes in the last 6 months. In our first sample month during December, the average price is $1,408. In January This price remains at $1,430. In the following two months the average price has hardly changed with regard to the previous two months from $1,419 to $1,471. 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 $1,445 and $1,383.5 between April and May.
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 $1,390 they are 7 % more affordable than the average price for New Bedford . The properties with the highest average price have 4 bedrooms, Their price is 61 % more expensive than the average. After that we have properties with 2 bedrooms priced at $1,540.
With regard to the average price per sq.feet, those properties with 1 bedroom are the most affordable ones at a cost of $1.16 / sq.feet, with an average $1.22 / sq.feet price in New Bedford. The properties with the most expensive average prices have 2 bedrooms. They are 10 % more expensive than the average followed by properties with 3 bedrooms with a price at $1.25 / sq.feet.
According to average price per property type in New Bedford, "" priced at $1,681 is 21 % more expensive than the average price ($1,390) in this city.