The rent prices in real estate in New Orleans, in the Louisiana 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 New Orleans has risen strongly during the last 6 months. In November, the average price per sq.feet was $1.83. In December this price barely changed remaining at $1.87 per sq.feet. The price for the following two months in (January, February) had a considerable rise of 1728 %. The price per sq.feet has had a considerable rise of 167 % 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 $16.91 to $28.32 during March, and April.
When referring to the price in New Orleans (cities), there have hardly been any changes in the last 6 months. In our first sample month during November, the average price is $1,726. In December This price remains at $1,659. During the following two months (January, February) the price has had an average rise from $1,692.5 to $1,810.5. 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 $1,751.5 and $1,825.5 between March and April.
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 $1,720 they are 13 % more affordable than the average price for New Orleans . The properties with the highest average price have 4 bedrooms, Their price is 67 % more expensive than the average. After that we have properties with 3 bedrooms priced at $1,984.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $1.53 / sq.feet, with an average $15.95 / sq.feet price in New Orleans. The properties with the most expensive average prices have 1 bedroom. They are 3 % more expensive than the average followed by properties with 2 bedrooms with a price at $13.57 / sq.feet.
The graph displaying the average rent prices displays the property type "Villa" as the most affordable one. At an cost of $1,720 it is 32 % more affordable than the average price in New Orleans. "Commercial" is seen as the second most affordable property type. The most expensive property type is "Townhouse" followed by "Condo". At a price of $1,722 it is 18 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Villa" at an average price of $1.13 / sq.feet followed by "Commercial" priced at $1.46 / sq.feet. "Townhouse" is the most expensive type of property with a $135 / sq.feet value followed by "Condo" with an average price of $2.58 / sq.feet.