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 June, the average price per sq.feet was $1.53. In the following month the price per sq.feet rose considerably to $4.25. The price for the following two months in (August, September) had a considerable fall of 60 with regard to the previous two months. The price per sq.feet has had a considerable fall of 77 % 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 $2.32 to $1.77 during October, and November.
When referring to the price in New Orleans (cities), this has risen in the last 6 months. The average price during our first sample month during June, is $1,496. During July the price went through a considerable rise reaching $1,722. In the following two months the average price has hardly changed with regard to the previous two months from $1,609 to $1,582. Based on an analysis of the first four prices and the last two months the average price has increased 107 % 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 $1,726 they are 15 % more affordable than the average price for New Orleans . The properties with the highest average price have 4 bedrooms, Their price is 101 % more expensive than the average. After that we have properties with 3 bedrooms priced at $1,902.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $1.31 / sq.feet, with an average $1.83 / sq.feet price in New Orleans. The properties with the most expensive average prices have 1 bedroom. They are 630 % more expensive than the average followed by properties with 2 bedrooms with a price at $1.74 / sq.feet.
The graph displaying the average rent prices displays the property type "Villa" as the most affordable one. At an cost of $1,726 it is 35 % more affordable than the average price in New Orleans. "Condo" is seen as the second most affordable property type. The most expensive property type is "" followed by "Townhouse". At a price of $2,445 it is 55 % more expensive than the average price.
According to the average cost per sq.feet, the least affordable property would be "Condo" at an average price of $4.41 / sq.feet followed by "House" priced at $7.68 / sq.feet. "Townhouse" is the most expensive type of property with a $163.03 / sq.feet value followed by "Villa" with an average price of $15 / sq.feet.