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 February, the average price per sq.feet was $1.57. In March this price barely changed remaining at $1.64 per sq.feet. In the following two months the price per sq.feet has practically remained the same, going from $1.61 to $1.65 per sq.feet. The price per sq.feet has had a considerable rise of 178 % 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 $1.63 to $2.89 during June, and July.
When referring to the price in New Orleans (cities), there have hardly been any changes in the last 6 months. The average price for February is $1,533. During March the price had a slight fall till $1,448. During the following two months (April, May) the price has had an average rise from $1,490.5 to $1,575.5. 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 $1,533 and $1,609 between June and July.
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 $1,722 they are 14 % more affordable than the average price for New Orleans . The properties with the highest average price have 4 bedrooms, Their price is 124 % more expensive than the average. After that we have properties with 3 bedrooms priced at $1,934.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $1.41 / sq.feet, with an average $4.25 / sq.feet price in New Orleans. The properties with the most affordable average prices have 4 bedrooms. They are 42 % more affordable than the average followed by properties with 1 bedroom with a price at $2.18 / sq.feet.
The graph displaying the average rent prices displays the property type "Villa" as the most affordable one. At an cost of $1,722 it is 35 % more affordable than the average price in New Orleans. "House" is seen as the second most affordable property type. The most expensive property type is "" followed by "Townhouse". At a price of $2,443 it is 57 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Condo" at an average price of $1.51 / sq.feet followed by "House" priced at $1.91 / sq.feet. "Townhouse" is the most expensive type of property with a $151.56 / sq.feet value followed by "Villa" with an average price of $19 / sq.feet.