The rent prices in real estate in New Orleans, in the Louisiana 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 Orleans has had a strong fall during the last 6 months. In July, the average price per sq.feet was $9.02. In the following month the price per sq.feet fell considerably to $1.71. The price for the following two months in (September, October) had a considerable fall of 29 with regard to the previous two months. The price per sq.feet has had a considerable rise of 340 % 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 $3.47 to $11.79 during November, and December.
When referring to the price in New Orleans (cities), this has fallen in the last 6 months. In our first sample month during July, the average price is $1,715. In August This price remains at $1,642. During the following two months (September, October) the average price fell 94 % with regard to the previous two months. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 92 %, going from $1,625.5 to $1,503 in November and December.
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 $1,487 they are 3 % more affordable than the average price for New Orleans . The properties with the highest average price have 4 bedrooms, Their price is 30 % more expensive than the average. After that we have properties with 3 bedrooms priced at $1,614.
With regard to the average price per sq.feet, those properties with 1 bedroom are the most affordable ones at a cost of $2.13 / sq.feet, with an average $12.46 / sq.feet price in New Orleans. The properties with the most expensive average prices have 4 bedrooms. They are 154 % more expensive than the average followed by properties with 3 bedrooms with a price at $10.72 / sq.feet.
The graph displaying the average rent prices displays the property type "Villa" as the most affordable one. At an cost of $1,487 it is 27 % 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 "Office" followed by "Townhouse". At a price of $2,703 it is 83 % 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 $1.71 / sq.feet followed by "Commercial" priced at $2.11 / sq.feet. "Townhouse" is the most expensive type of property with a $180.19 / sq.feet value followed by "Condo" with an average price of $13.01 / sq.feet.